The target's vehicle is always an old rusty Mariachi Tornado.
Get into the vehicle, and drive it to the nearest Los Santos Customs. You will automatically get a waypoint to the closest Los Santos Customs as soon as you enter the vehicle.
At the Los Santos Customs, rig the vehicle with an 'ignition bomb' for $500.
After that, drive it back and park it in the same spot.
Now, wait for the timer to run out, and the target will come out of their hotel room.
As soon as they start their vehicle, an explosion will eliminate them.
Leave the area to complete this hit.
Variant 2: Molotov Fire
In the second variant, you need to set the target's car on fire while they are inside it.
The easiest way to do this is to use molotov.
Go to the target's car and wait for them to check out.
Wait for the target to sit in the vehicle and start throwing Molotovs at them.
Do not throw them before they sit inside and close the car door. Otherwise, they will start running away from the car and you.
When you throw the first Molotov, the chances are that the target will crash the vehicle, causing them to get stuck in a spot, making it easier for you to throw Molotovs at the car.
Throw a couple of Molotov, and the car will explode.
Leave the area to complete the mission.
Variant 3: Scoped Rifle Engine Shot
In the third variant, you need to use a scoped rifle to blow up the engine of the target's car while they are inside it.
When you reach the motel, you will get a white bag icon on your mini-map. This is the location of the scoped rifle.
It is usually found on rooftops around the motel. Climb up on the roof and interact with the bag to get your scoped rifle.
Now, wait for the target to check out and get inside their car.
When the target is inside the car, shoot the front bumper area of the car to blow it up.
Leave the area to complete the mission.
Successfully eliminating The Cofounder using one of these methods will grant the assassination bonus. For more targets, check out the main Payphone Hits hub.