(ARV $110k, $40-50k in + purchase price + holding + transfer/purchase)And a mixed use commercial property I really want in a heavy traffic area that I need to convince the owner that he's overpaid.

You have more control than you do in the stock market.  

Being located in a walkable area is advisable to help with LA traffic. 

Remember you don't have to own a property to control it.

We are not on a good street traffic wise.  

I too have a property management company in place but I want to be armed with enough information so I can be in control of the decisions that are made.

His response made sense, however, would allowing this take control away from me as the assignor ?

Why do you want to partner with someone who is losing their home and obviously finds trouble controlling finances, decisions, etc...?  

Also, if you fund a marketing campaign control the leads.  

Remember you don't have to own a property to control it.