A sidebar concern (yellow flag) is 'Are you and your partner working together on your collective rehab/financing/reselling plans ?'

I know you for sure can't get around the 90 day rule for reselling.

I know plenty of people who still to this day feed their marketing budget by going to yard and garage sales and buying stuff for pennies and reselling for dollars.

Bear in mind when you go to resell, it'll likely sit on the market for quite some time and your future buyer will also use the train as a negotiating tool.  

However, there were still some great opportunities for rehabbing & re-selling if you has the cash.

Yes, there can be steps, like find, buy, hold, resell, but within each of those or any other steps suggested, taking those steps requires much more knowledge than you are being given.And, they don't care, it's not about your success, it's about their success.

Generally you would have to complete the transaction and resell it, it shouldn't cost too much if you are doing so in a private sale.

This could be house flipping, reselling products on eBay or Amazon, consulting, etc. 

I know its very case dependent, but does anyone have any feedback/experiences/opinions with flipping or reselling homes that have flooded more than once?

Financing is usually tough on HDFC co-ops since there are income restrictions (which restricts who you can resell the property to), appreciation is usually not so great and the co-op tends to take a large percentage of any profit you make on the resale (some buildings take 50% of the profit as a flip tax).