Here are the details:From an operational standpoint we are basically 50/50 and will both be actively involved in the business, we will be hiring 3rd party management. 

I learned to hire the best inspector you can find.

Otherwise, I think you have a case to get out of this deal but will need to hire an attorney to file suit against the Seller for breach of contract and committing fraud.  

I would hire a lawyer and start the eviction process.

However, I doubt you will find anyone excited to work with you if there is no JV style payoff at the end, and if you are just going to hire them to do the work, your interests are not aligned, so I would be careful how much credit you give their estimates/assessments.Whatever the outcome, you will be happy you did it if you just know your numbers and take action!

Are you doing the work yourself or hiring a Contractor?

Looking to purchase a BRRR and willing to take on some of the work myself but will need to hire out the bigger jobs like drywall, roofing, floors, etc. 

The only exception I see this is some companies will hire relocation companies for employees moving for work since they are more familiar with the area however this is also a sign you may have a short term tenant. 

You may need to hire a building designer or architect to help you prepare the necessary documents for permitting.

Continue doing what you find fun but be quick to hire others to work for you if it's outside your wheelhouse.