The approach involves using a hard money lender (HML) to fund 75% of the purchase price while having the seller carry back 25% in a second-position loan, allowing you to flip the property with little money down.

Definitely a question for a tax attorney/accountant, especially with the dollar amounts involved. 

What areas are you interested in getting involved in and what strategy (househacking, fix & flips, buy & holds, etc)?

These days most PMs don’t involve their clients in Tennant selection.They’ll get photos taken. 

NOT judging, I am truly curious the mindset's of such persons.

Its great that you have saved some money and have a desire but investing involves a risk of loss.

I personally believe his contract job contract got cancelled as i know others from his company left that same week. 

It's vitally important to know who you are working with, and have the history of the players involved.

That could be you personally or an LLC. 

I’ve been involved in property management for over a decade and have a passion for optimizing operations, maximizing cash flow, and creating great experiences for both tenants and owners.I joined BiggerPockets to connect with like-minded investors, property managers, and real estate professionals.