I intend on getting the BRRRR book as well to get more information.I understand refinancing is a way of paying off the initial loan used to purchase and rehab a house thanks to the equity you get out.

First, you should verify his income supports the rent without her assistance.Second, you should write up a simple "Remove Tenant Addendum" that removes her from the lease, gives him complete control of the lease and responsibility for the rent and condition of the property, and that notifies her she is giving up any rights to the property or the security deposit.

I assigned the contract but had some personal funds to cover some of the initial costs.

Concentrate on initiating your wealth building and real estate portfolio in that proximity.

Also did you verify it on Google what the neighbor said?

The initial payment for the exam?

Only needed it initially as this was my first buy.

With this fact pattern, its tough contemplating losing maybe up to 20% of my initial capital in load charges to sell and buy just to effectively annuitize what I have. 

Perhaps I wasn't clear initially, i am not looking to be a syndicator at this time.

Nothing wrong with your initial approach its just difficult to scale.