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. 

I also am not one seeking hundreds of rentals, but want a few quality homes to keep things simpler.I do not want to payoff the home(s), but would rather have the tenant pay it down for me.

While there are still some good deals on the MLS, this time of year, I would encourage you to seek out deals through other sources.

Once the property is under contract I am willing to assist with the estimate process with intentions of making the deal happen, this way it’s a win win for all parties.