Closing guy said that the language in the main contract that referenced the assign-ability was ambiguous but he felt that the take away was the assignment wasn't valid. 

Property DetailsCurrent Mortgage Balance: $113kCurrent Estimated Home Value: $180kYears Bought: 2013Interest: 30-year fixed 3.99% (No PMI using special loan program for just 15% down)Analysis: Income Current Lump $50k Principal Payment Paid Off Mortgage Rental Income $ 1,500.00 $ 1,500.00 $ 1,500.00 Laundry Income $ - $ - $ - Storage Income $ - $ - $ - Miscellaneous Income $ - $ - $ - TOTAL Monthly Income $ 1,500.00 $ 1,500.00 $ 1,500.00       Expenses       Water/Sewer $ - $ - $ - Garbage $ - $ - $ - Electric $ - $ - $ - Gas $ - $ - $ - HOA $ 240.00 $ 240.00 $ 240.00 Lawn/Snow $ - $ - $ - Vacancy $ 150.00 $ 150.00 $ 150.00 Repairs $ 15.00 $ 15.00 $ 15.00 CapEx (Replacing Things) $ 125.00 $ 125.00 $ 125.00 Property Management $ 150.00 $ 150.00 $ 150.00 PITI $ 778.67 $ 475.15 $ 180.00 Other Expenses $ - $ - $ - Total Monthly Expenses $ 1,458.67 $ 1,155.15 $ 860.00       Cash Flow       Total Monthly Income $ 1,500.00 $ 1,500.00 $ 1,500.00 Total Monthly Expenses $ 1,458.67 $ 1,155.15 $ 860.00 Total Monthly Cash Flow $ 41.33 $ 344.85 $ 640.00 Total Annual Cash Flow $ 495.96 $ 4,138.20 $ 7,680.00       Cash on Cash Return       Down Payment $ 30,000.00 $ 30,000.00 $ 30,000.00 Closing Costs $ 2,000.00 $ 2,000.00 $ 2,000.00 Addition Lump Principal Payment $ - $ 50,000.00 $ 115,000.00 Miscellaneous Initial Costs $ 3,000.00 $ 3,000.00 $ 3,000.00 Total Investment $ 35,000.00 $ 85,000.00 $ 150,000.00 Cash on Cash Return 1% 5% 5%Any helpful insight and/or constructive criticism on the math and assumptions on this analysis would be greatly appreciated.

@Mike Villela, All of your post-sale options are valid and good to pursue. 

While I think you make a valid point @Thomas S. it seems to me the rents being low allows for a potential upside. 

Not that it may not be valid, it's just something that I'd never heard of before.

Balance: $76,5006.5% interest, includes PMIBalloon payment at the end of 2 years:$74,000If 10 year fixed: $869 a monthIf 15 year fixed: $660 a monthIf 20 year fixed: $570 a monthIf 25 year fixed: $517 a monthIf 30 year fixed: $484 a month$600 average for homeowner's insurance, property taxes, gas, electric, water, sewer, garbage pickup, basic cable TV, digital phone, and Internet.1 bedroom rented for $450 a month.

The only valid reason for getting reimbursed the same amount should be that the lien was created in error.

Hard to see from picture if you have gas line coming into the fireplace.  

An addendum is the best way to keep the contract valid/current.

You are correct, if your portfolio consists of properties that are all negative, no one will lend to you, no matter your net worth.I have just tried to "pour gas" on investing over the years.