I too think that finding buyers will be the easy part. I

Until both parties have signed the offer it is not a contract and the offering party may cancel the offer at anytime before the contract is formed.

However, Mike stepped in and got involved even thought his party of the deal was done. 

From a due diligence point of view, you can't consider third party hearsay off social media. 

If a dog were to bite someone, why wouldn't the owner be the responsible party?

They could be willing to do an equity share where, depending on the agreed upon amount of time and money invested from both parties, the percentage of the profits are split appropriately once the property sells.  

Then the hard part is finding the properties that can be fix n flipped for a profit.

Hi @Renata McCulloch & @Cameron Sigurdson to get a good quality note you should be prepared to have more like $50K available, although your IRA can partner with another party to combine funds to take down a note via joint venture.

If 2 party's sign a lease (contract).

The reason for my confusion could be that I read another thread where it was the Reverse Mortgage Institution who was selling the "Owner"-Occupiers property, and the responses there suggested that was nothing out of the ordinary, since the Institution was already paying out that Owner per their reverse mortgage arrangement, and could continue to do so even if THEY sold the property to another party.