But I have never seen a property sold to a third party, then un-sold to reopen bidding. 

Hope that is still legal.

What's the terms of your agreement; how many days do you have to assign your contract, what happens if you don't find an assignee, do you have a legal and air tight assignment agreement, are you legal (not acting as an agent), is there real consideration, how much and who is holding it consideration, do you have a built in extension in the event you don't close in time, do you have right of possession durning contract period, what showing arrangement do you have?

I recently learned that I can't legally charge a management fee in state of Oregon for "managing" a small residential property.

Are the double closings/simultaneous closings legal in CA to be specific?

Should be a strong rental location if that restriction part is kosher?

OURS is the lender.THEIRS includes the additional third party charges from others required to close this transaction... title company for sure (closing + lenders title insurance) and it's possible that outside attorneys are preparing your loan docs.

That llc joins as a member of the llc with the other 3rd party members. 

If property was free and clear, then the owner of the property should get the fair market value first from proceeds of the sale.What was the purpose to do 50/50 and how do you legally wrote that house contribution?

Box numbers), of the parties, the contractors registration number, the name(s) of the salesperson(s) involved, if any and the date the contract was executed by the parties.