I guess to understand fully, what type of tax returns were filed and what does the deed actually read in terms of ownership. 

Good contractors can be hard to find.Here is my advice.I have had great luck finding them at our local real estate investor meet up group.I agree building supply centres can also be a good source.In my experience it is easier to find people to do a big job, rather than small ones.What I have done is formed relationships, where I give them a good big contract and in return they do the small stuff for me.I also have a couple of handyman type people on my team.They are usually doing repairs on the side, often for cash under the table.I only trust the small guys with minor stuff, maybe laying a floor, or replacing a toilet.The key is to build a solid team, do not nickel and dime them, pay them as soon as the work is done.Build a win win situation.

I have a bunch of experience in all types of construction (since I was 17) and having a real estate active broker license for about 30 years even though I never did that full time.I used that license to help close a few deals for other people and have only done one investing deal for myself.  

(I guess I would be more of a buy-and-hold type of investor).  

Literally as I am typing this on my phone, I just watched some lady walk from across the street with a chair to sit in front of my building.

Hey there so I am a 22year old looking to eventually dive into the real estate industry, with so many different types of real estate investments opportunities out there from single family, to duplexes, apartment buildings, ect. i just want to get some feedback and advice before i jump in the industry, so what type of property was your first property that you obtained?

It also depends on the type of rental you want to have: owners are more likely create problems for you, if you don't keep up your house or have bad tenants.

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why would they agree to making that type of deal?

With that type of financing you would only pay about 31/2 percent down paymentDepending on your financial situation you might want use an Attorney and/or a tax attorney to give you advice when you know what you are investing in.