Of course it doesn't "change" the contract, only puts the assignee in your shoes.

Currently, buy and hold investing is really all that I feel comfortable stepping into, and I just don't fell comfortable doing so in my area.

If you are not comfortable that they are, run!

But this also gives you the ability to ask yourself, Am I comfortable with returns on the low side of that range if expenses are higher, or rents a bit lower, than I thought originally?

I'm very comfortable with it since he will be completely "by the book."

Please don't take that as me piling on, every single person who has ever invested in ANYTHING has made mistakes.However, you are where you are and you have to move forward.First, if I were in your shoes and had to make a choice between paying the mortgage on the house my wife and kids live in verses a rental held in an LLC, the mortgage on the rental goes unpaid.Second, serve her with the pay or quit notice IMMEDIATELY.

The result of subrogation is that the person subrogated stands in the shoes of the one whose claim has been discharged by his performance.

I was hoping you could lend some expertise on how you got over that hump and how you got comfortable with paying insanely high interest rates on hard money and private money if that is what you indeed chose to use?

The hardest part would be if the old drain wouldn't unthread from the shoe below due to corrosion but I was able to get it out without too much elbow grease.

Similarly if you can find a job (for now) to learn the skillset necessary to become "expert" at it (or have enough knowledge to feel comfortable starting in it), that will set you down the path to success.