EXHIBIT 10.3

ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT

For good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, STEADFAST ASSET HOLDINGS, INC., a California corporation
(“Assignor”), hereby assigns to SIR HILLIARD GRAND, LLC, a Delaware limited
liability company (“Assignee”), all of Assignor’s rights and obligations under
and in regard to that certain Purchase and Sale Agreement and Joint Escrow
Instructions dated November 2, 2012, (as may have been amended or may hereafter
be amended, the “Purchase Agreement”), between Gary L. Schottenstein, an
individual and Brett Kaufman, an individual (collectively, the “Seller”) and
Assignor for the purchase and sale of that membership interest relating to that
certain real property located in Dublin, Ohio, as more particularly described in
Exhibit A attached hereto (the “Property”).

Assignee hereby agrees to and shall assume, perform and be fully responsible for
the performance of all of the obligations of Assignor under the Purchase
Agreement.

All of the provisions, covenants and agreements contained in the Assignment
shall extend to and be binding upon the respective legal representatives,
successors and assigns of Assignor and Assignee. This Assignment represents the
entire agreement between Assignor and Assignee with respect to the subject
matter of the Assignment, and all prior or contemporaneous agreements regarding
such matters are hereby rendered null and void and of no force and effect.

(SIGNATURES APPEARS ON FOLLOWING PAGE)

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WITNESS THE EXECUTION HEREOF, as of this December 31, 2012.

 
ASSIGNOR:
 
 
 
STEADFAST ASSET HOLDINGS, INC.,
 
a California corporation
 
 
By:
/s/ Ana Marie del Rio
 
Ana Marie del Rio,
 
Secretary and Vice President

                    
ASSIGNEE:

SIR HILLIARD GRAND, LLC
a Delaware limited liability company

By:     Steadfast Income Advisor, LLC,
a Delaware limited liability         
company, its Manager
                            
                            
By:
/s/ Ella S. Neyland
 
Ella S. Neyland, President

    

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