It only means that the contract needs to be altered to allow the assignment, or a different contract needs to be used.https://www2.floridarealtors.org/news-media/news-articles/2019/06/what-should-realtors-know-about-assignable-contractsWhat Should Realtors Know about Assignable Contracts?

Spread and leverage How did you find this deal and how did you negotiate it?

I believe various population are spread out in various rent range but think at certain purchase price it may be very difficult to find tenants or to make positive or even profits. 3. 

the risk though as you state is you have folks trying to do their first one who don't live anywhere near the project.there is a reason most banks wont lend on construction projects to anyone who lives more than 100 miles from the project .. they learned this over a very long period of construction lending.and your right the spreads are simply not there to achieve the perfect BRRRR  locals can probably get it done. but out of state pretty tough.. to very rare.. so then if your leaving equity in ..   

What I’m looking for is one main thing, possibly a second: cash to cover a 50-75% of the down payment so I can retain capital, and possibly a partner to spread the downside risk if there are problems, expenses, etc.

We do not want to take the chance at the fleas getting worse on their side and having an even harder time eradicating them, or worse, for them to spread to our side.

Management companies can have too many clients and they spread their work load too thin.

I'm wondering if it would probably need more repairs than $45k given the spread between purchase price and ARV.On another note, there are lots of investors out there with cash. 

Took a month of hard work (lots of open houses, social media marketing, email newsletter, follow up with agents, etc.), but we got it done.

The interest rate arbitrage between cap rate 7.5% and borrowed funds 6.25% is thinner than I'd normally find acceptable (normally 2.5 spread minimum) , but the main goal on this one is access to cash reserve.