On one hand, they lectured about actual real estate concepts and planning for about an hour and a half before getting to what they were selling... but on the other, they talked for an hour and a half before getting to what they're selling.

I really need to get a grape on this concept because I am working with seller but don't have the right contract or understanding on how it works.

They have no concept of actually waiting throughout the weekend to have a repair addressed once the temperature goes over a certain limit.We often go over, pretend to fiddle with the unit and can sometimes diagnose the problem as a frozen unit, especially if the box of 12 filters I've left for them at move in have grown dusty with cobwebs still sitting in the closet untouched and the one being used looks like it's grown a nice beard. 

Wasn't able to find much info on that concept online. 

You'll need to "hire" and train a replacement as opposed to selling a business.In terms of "The Cashflow Quadrant" (E - S - B - I), you're in the bottom-left corner: you're self-employed.You would need to move to the top-right corner and become a business owner: the business needs to run even when you're out sick, on vacation, "on family leave", etc.If you're new to the concept, "The Cashflow Quadrant" looks like this:E | B-----S | I"E" is you're an employee in someone else's business.

Knowing the basic concepts of asset allocation, net present value, leverage, risk adjusted returns etc will help you a lot in understanding the mechanics of the business.I really think a basic college education will help you, but the materials provided on Bigger Pockets, like the podcasts and books will go a long way along with real world experience to helping you in real estate.

Proving the concept and model works then they'll widen the net...

I have been introduced to a concept where the realtor used leaves some or all of their commission in the deal in exchange for a small piece of the action.  

My mom did it for a little while, so I've read some books and stuff and understand the general concepts.  

I hope this makes sense.I hope that wasn't too much information but as long as you understand the concept of the appraisal and know how to measure comparable value that is the critical part to real estate evaluations.