We have to intervene when there are conflicts, which are inevitable.

The checks can go to the LLC and you can 'check with the owner' in the case of any conflict. 

I would like to start flipping houses but I also would like to purchase a home for my family soon and do not want the Two to conflict!

.$) and then wrote up purchase contract.I contracted inspector, negotiated and then set closing at title agent and they did the closing and ensured clear title.I think agents help with keeping it moving especially when there is conflict between parties and can provide great vendor recommendations.I would also see if there is a local chapter of Real Estate Investors Association in the area you are buying and become a member to get recommendations on vendors/contractors.

Is there some legal conflict that makes this impossible?

Dual agency is a huge conflict of interest and unless you really trust that sellers agent, I hope you did not share anything confidential with him. 

I have a conflict this month with one of my community events but I will keep an eye out for the next one!

But I see potential in the area and want a piece of that market as a longer-term, appreciation play (I know its the risky option), so I am conflicted.

Ultimately you want an agreement that everyone feels comfortable with and protects your individual interests as well as providing a plan to handle the "what ifs" and minimize future conflicts.

Everyone is so close and pays for the common space so conflicts can arise easier if they notice lots of different people coming in and out of your unit.