For instance no debt may be incorporated and the purchase must happen simultaneously, to name a few requirements.

1) Is it illegal in AZ to do a double or simultaneous closing  and which situations require these types of closings?

I agree with others that this is unlikely, but doing this as a standard practice with hundreds of notes that COULD all be called simultaneously is standard business practice for many real estate investors.

Once the buyer is lined up, the investor buys the property from the seller, pays off the seller's mortgage at the short sale rate, and simultaneously sells the property to the buyer at the higher price, pocketing the difference.

Investing money while trying to get out of bankruptcy seems like the exact right thing to do,  I think that Dave Ramsey guys recommends highly leveraged simultaneous Helocs, credit card advances, and hard money bridge loans while defaulting on your old creditors but only if you have over 150k of student debt.

The reason why I'm asking is because Brandon's story of losing 10k and 2 years worth of effort at his first attempt to invest scared and enlightened me simultaneously.

So the recent new second lien boom doesn't help buyers of discount seconds who need product that has been marked down due to flaws or exceptions much.Today's second liens are much more conservatively underwritten, relative to simultaneous second liens originated during the housing boom, said Suzanne Mistretta, a senior director at the New York-based Fitch Ratings.

Lots of auctions going on simultaneously, and it is not a place for the faint of heart.I always recommend that people should go experience it for themselves.  

We have invested while simultaneously increasing our investment money through our W2 potions. 

To the micosecond, something has to happen first with deeds of trust, documents are not made simultaneously, one is made before another.