Is that even legal?

Completely legal and meets all the requirements of the military.

Would it be legal for such a development to be on the site?

Not legal advise but passing along what I have been told.

My terminology and description may not be *legally* accurate but the concept is correct.

They sign offers with their name (no POA designation)(the broker's signature) and no signature from the seller (is this even legal?)

So basically I am a handshake investor, uflly equipt with a great legal staff and CPA team.

The team should at least consist of a professional attorney, accountant, broker, escrow officer and Qualified Intermediary who are experts in the areas in which the Investor is working.It is extremely important for Investors to consult with their legal, tax and financial team before entering into any tax-deferred like-kind exchange.

I'm not sure, but I think you might have a legal problem on your hands.

But I worry a bit that all the transaction costs (time and money) in finding and buying the house on the front end, and and selling the house on the backend, with accompanying paperwork/legal/etc, would eat up so much margin as to make it difficult to make real money on the rehab itself (i.e. improving a run down property back up to 'market' value).For those doing 1 & 4 (straight flipping or rehabbing and flipping), how do you find properties priced low enough, and sell them high enough, holding down your costs all the while, to make a decent profit?