I got a Sweet Lease Option deal going

I recruit a lot of bird dogs. A few months ago A girl named Lee called and said her Dad had a rental property that was underwater and he just wanted to get out of it.
I went to check out the house and met the seller and my bird dog. It was a nice 3/1 all updated with a new kitchen and bath and even new dual pane windowns and air conditioning heating unit.
The seller explained he owed 135K and the house was currently worth 90-100K He tried to do a short sale but he found out he would have to stop making the payments and produce a hardship letter and he didnt want to screw up his credit.
He has it rented for $800 and his payments are $1,162 PITI. Principle Interest Taxes and Insurance.
I gave him my sales pitch, left him my contract to look over and figured it was a done deal. Now over 2 months later he finally agrees to do it. It may have been because of my last phone message I left him saying, I wanted to help him get out from under this liability and I offered him $2,000. Also a 7 year Lease Option Period.
I got the contract signed last night and already have a serious buyer that has a $7,500 assignment fee.
The seller gets $2,000 and his daughter Lee and I will split $5,500 $2,750 each. Its not a killing but I can sure use it. If your wondering why the heck would anyone pay 30-40K more for a house than Fair Market Value. Well, the financing is already in place, the buyer doesnt have good credit but does have the income. He dont have to deal with a bank and credit checks and all that. This is the only way he can own his own home.
The seller is happy, he gets the $360 monthly negative cash flow gone, the buyer is happy, he is finally going to be a proud home owner. The bird dog and I are very happy, we got some cold hard cash.
Let’s make some Money… Rando