"flex option agreement"

[William MacBride]

Hi
I just got a little surprise this morning. It turns out my girlfriend and I are already an incorporated real estate business called "Alpha and Omega Real Estate Servives, Inc." She somehow got incorporated without my really being consciously aware of it by paying some company called "The Tax Club" 900 dollars. and they're also gonna help handle her taxes (or something). Anyway that's not really the point of my post.
She bought one of these real estate programs a little while ago put out by a guy named Tim Mai. Included were forms called a Flex Option Agreement. It basically states that seller agrees to let the "buyer" try to sell their house at a higher price to an "end buyer" and pocket the difference. If either the buyer doesn't find an end buyer in that amount of time, or the seller finds their own end buyer, the contract is null and void. Nobody owes anybody anything further.
This kind of seems like your basic low risk sort of arrangement. I just wanted to know if:
1. This document and type of arrangement is fully legal.
2. If it's something that commonly done and fairly easy to arrange.
3. If anybody has anything to say about Tim Mai's program
4. Any other comments you think relevant
Thanks,
Will

p.s. is it better to be incorporated or to be an LLC?