What am I risking by not going with a general contractor? 

Either for guidance and/or to exchange deals- You also want to network with the various tradesmen you'll encounter with your projects, like contractors, home inspectors, title companies, investor friendly realtors, hard money lenders (especially until you gain access to private money).

Can possible sub divide lot.over 5,000 sqft all brickrehab estimate- exterior 40,000... interior 20,000 per unit x 4= 80,000Total Rehab $120,000Seller Asking PRICE $175,000Present mortgage $125,000 @ 7.2% 30 year term (was originally $152,000 in 2004)No second liens2 units are occupied (don't see how with all the deferred maintenance) and supposedly collecting rents $600 eachThey originally offered a "land contract" at $175,000City assessment- based on land and structure $203,000All units are metered separately- electricity, gas, water, trash etc...The good news....pro forma base upon what I know about that area.

(Our contractor thinks this is too little). 

Just recently I had my title company call me and say a contractor contacted the home owners about a nearly 10k balance owed. 

Could you please recommend some good, and reliable contractors, knowledgeable Real estate agents, brokers, accountants, and lawyers?

We are very naive and trusting people, so we had major issues with contractors (had to fire the first one) giving us proper estimates and following through on their work in a timely manner, and sticking to budget.

A guy was flipping a house and acting as General Contractor getting his own subs .

This tenant recently sold her brand new home and is now living in my 1,000 sq ft home built in 1950 and she bombards me daily with complaints about things being old and gross (literally), even asking us to replace all of the electrical outlets and build regular closet doors (ours are floor to ceiling metal doors).

They don't require wi-fi or electricity.