Let me know if I can be of assistance.

I am seeking private capital or LOC.

Welcome Neil happy to network and assist .  

I'm not a CPA or attorney and suggest you seek one out.

Then the investor assigns the agreement to a tenant buyer with the approval of the seller and the tenant buyer assumes the rights and obligations in the lease option agreement and the investor collects the assignment fee and moves on.How would a real estate agent assist the investor in this process?

Just finding a deal for an investor can get you you the education you seek.

Then seek out people who are doing what you want to do in your market. 

Happy to network and assist.

We were told the house was undergoing renovation and it would be leased after completion. well, after a few emails and the assistance of one of BP members we found out the house is actually occupied..

this happened to me in TExas on virtually every house we did there.. values rising to rapidly and and all your buyers VA FHA  who also need closing cost assistance.. tough place to do vanilla retail flips ..same with many areas of the country were values have been stagnate for years.