I can email you an assignment contract.

Some you will like and some are very 'pitchy' selling all kinds of classes and junk.Meeting people in person and getting to know them and what they do will help increase your knowledge that much more.

Personally, I'm not a fan, but I could see why some people like it. 

The questions you are asking are far to vague for anyone to have major input or guide you correctly as each person's situation is different. 

You aren't the first person to suggest it, however.

He is not in a position to begin lending money for several reasons.I assume the HELOC was made against his personal residence.

@KiKi Wood Is your person for STR set-up in Indianapolis!

Will the person get paid for that?

The deal was done.Banks and checks didn’t exist for them and so every month I would personally go to the property and collect the rent in cash.

I would also look up the statue of limitations for the tenants to come after you.This might be a personal liability insurance question.