Last minute they changed the deal to a mortgagee loan and cut the SOW from $65,000 to $40,000.

I think you will have a hard time selling it with the tenants there, meaning you will take significant cut in your sale price. 

Grill me, shoot me straight, anything helps. 

I have been licensed here in Atlanta for almost 3 years now and have cut my teeth in the investment residential space.

Connect with other investors, agents, and property managers to get a feel for the area and learn from their experiences.Are you thinking about house hacking or just straight-up rentals for now?

FYI - not legal advice.If it's not a formal assumption and it's a straight sub-to, typically the seller remain personally liable for the debt if the investor defaults.Essentially, what can the investor do better than the seller after refinancing the property? 

I have recently been made aware that I get straight to business without really concerning myself for the sellers side of the story and when you have the sellers problems, goals, etc.

Identify the biggest losses and cut those with as minimal a loss as you can.

There's nothing special about it beyond some added, very straight forward paperwork. 

Also think about where you can cut costs, can you self manage, find a less expensive property manager, can you bill back expenses to your tenants.