It is perfectly allowable as long as the investment is made simultaneously, the percentages of ownership never change throughout the life of the investment and there is no transactions BETWEEN the disqualified parties.

Is your plan to contract the properties and then assign the contract, simultaneous closing, or actually close and flip???

Simultaneously, get involved in the forums.  

If you do this, tie up the next property first, you can even do a simultaneous exchange, rather than the more well known non-simultaneous one.

Depending on your state you may get an eviction and a cash judgement against her simultaneously, or you may have to sue separately for damages.

.- Simultaneous closings are legal and do happen, at least in some states.

I've honestly never done one for someone with a zillion construction loans in their personal name going on simultaneously before.But, note that Fannie's cap of 10 does not include a primary residence.

Simultaneously building a brain trust consisting of civil Engineer / architect / initial sweet equity partners/ ?

That way we are both working on building a buyer's list simultaneously.  

While you could do one deal for $100K, you'd likely make more money by doing two simultaneous deals with $50K each, while borrowing the other $50K for each of the other two deals.