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.  

To property manage that number of units in a working class type of neighborhood I would charge 8%. 

Yes, but while some tenants will pay to be in these 24 hr doorman type with a gym, you have to offer something different.  

CON:  It is risky, just like any other type of investing.  

So I have two properties under an LLC that are free an clear and I would like to use them as a collateral and like that make sure of excess cash to purchase it   any Ideas on type of loan options?

You would want to check with your banks first so you know what to expect, as well as if they even want to do that type of loan at all.