Talk to the title co. about doing a straight assignment, not adding them (which would require seller approval) to the contract.

get it to the title co and have them start the work.Make sure they file a memorandum in the county so other people cant try and go around you.START MARKETING!

The OP and the co-owner have choices.  

As the subject title says, we're from Longmont Colorado just half an hour north of Denver. 

I have bought and sold more than 200 properties in my life, about 60 of those have been in HOAs, mostly in Colorado.

Always ask questions to see if the title co. knows how to a double close and an assignment.Same thing with any attorneys, ask questions.If neither knows keep calling until you find one.Try finding a real estate club close to you and join them and ask questions.

But it looks like my only option would be to get a cosigner and refi correct?

Here are a few ideas to kick around:Have borrower get a co-signer, or more specifically, a co-guarantor with property with equity that gets added as additional collateral.Sweeten deal by getting additional collateral like auto, truck, inheritance, anything.If you are concerned about her performance, negotiate a contract for option.

But I don't put that into escrow and there is a simple reason I don't.On the west coast once money hits an escrow account of a major title co..

It's a great quick and dirty way to get a basic idea of how well something will work out but other expenses/calculations definitely have to be taken into consideration to get a better picture.The numbers you give definitely look good like and since they meet the 2% rule there is a high chance that you will do well but its still possible to be a bad deal without all the numbers.Lets take House 1 for example:$35990 Rent Ready, Rented for $850 = 2.36%50% rule = $425 to Tax, Ins, Maint, etc and $425 in your pocket which is greatNow lets say House 1 was in a trailer park or Co-op with lot rent or dues of $250 a month?