They are good at what they do but interest rates have been scaring off potential buyers.

Your choice: Listen to the agent selling it to you and reaping the potentially large comission or listen to someone who knows the tricks and secrets and then go buy it from whomever you want.

I have posted this before but the LL you knew needed to have a competent lawyer and should have got HCD involved.  

They can decide that offer #2 came from a contract lawyer and he'd be a good owner in the building since he can help them with legal issues...or whatever random reason they like his offer better. 

It is not a get rich quick scheme or anything, but it does allow you to start getting debt pay down, depreciation, appreciation and potentially cash flow when you move out.

SO the property i am potentially buying i know how to do most of the work like drywall, flooring, bathroom. 

If so, there are plenty of high-paying real estate-related jobs that could help you learn the business further, network with others in the industry, and potentially even help you find deals that make sense. 

What type of attorney specialize in this: Real estate lawyer ?

@Bill Bouillon  @Katie Funk I agree with Katie, talk to a (good RE lawyer or RE CPA), even if you grab just an hour of their time. 

DSCR loans for refinance based on the income potential of the rentals.