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 SONOMA GRANDE, 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 dated February 15, 2012 (as may be amended, the “Purchase Agreement”), between Sonoma Grande Tulsa, LLC, a Delaware limited liability company (“Seller”) and Assignor for the purchase and sale of that certain real property located in Tulsa, Oklahoma, 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.

WITNESS THE EXECUTION HEREOF, as of this May 24, 2012.

ASSIGNOR:

STEADFAST ASSET HOLDINGS, INC.,

ASSIGNEE:

SIR SONOMA GRANDE, LLC

an Delaware limited liability company

By:     Steadfast Income Advisor, LLC,

a Delaware limited liability         

company, its Manager