If you know about a subject, you have studied it or taken an interest in it, and understand part or all of it. Hire someone with experience, someone who knows about real estate. This is a literal sense.

Context Explanation

Additional definitions are more figurative, "knowing someone inside out" is to know them thoroughly. "inside and out" is in Merriam Websters abridged dictionary, and is therefore not available online. It does cite "inside out." "Inside and out" can mean simply the inside and the outside.