@Daniel LopezYou definitely cannot have 2 FHA mortgages simultaneously.  

Or do this simultaneously with the sales to cover carrying costs.Have you googled the agent, checked the board of realtors, real estate licensing division to see if he has complaints?

It all seemed to happen simultaneously, we got the collateral file, funded, they (seller) completed a loan mod. :-| Say what!

If you've got some sweetheart rent control deal going on, it may make sense to continue personally renting as well, while simultaneously making other investments (which could include real estate in nearby cities that lack rent control).

I had a few questions concerning this:1) Is there any ethical or legal issues with being an agent and investing/rehabbing simultaneously?

You could still work both strategies simultaneously, and once you begin working your first few hot leads, you can decide to either BRRR them or wholesale !

That determines whether it will be (2) transactions closing simultaneously or if it will be (1) transaction with an assignment fee added to the buyer's side of the ALTA/HUD/CD.

This is the best time for BRRR investors ever (if you can find a deal w/ deep discounts or value add) because its a simultaneous environment where the values are really high and the rates are still relatively low (currently easing downward as we speak today).In 2011-2013 rates were low but your appraisal was crap low so good luck back then when trying to do BRRR because you won't be saved by the new comps that come to market after you purchased your property. 

I hope to get it as I would be simultaneously learning hands on about flipping and possibly get him as a mentor.

Does anyone know a good Title company in North Jersey that does simultaneous / double closing.