You can see the timeline below and my question afterwards.Contract / Paperwork Timeline - April 29th - Submitted original documentation- May 4th - Received request from seller for revisions (submitted the corrections on the same day)- May 11th - Received the seller signed addendum (submitted paperwork for the inspection for Friday, May 15th)I never got a response from the realtor to say that he has received documentation or emails and he has not confirmed the inspection date or even let me know that he has received my request. - Considering the money involved, is it normal not to hear from your realtor and for things to take so long?

The documents you refer to are disclosures used by real estate agents and are important for full disclosure to the buyer.

I know there are new rules for payment processing that requires them to do some sort of reporting.I would think just document everything and if something should come up you can show that your sister reported the income and you are just managing it.

In most cases keeping earnest money can be difficult because a document must be executed by both parties in order for the earnest money to be released.  

Therefore, it is the policy of this State that the people may obtain copies of their public records and public information free or at minimal cost unless otherwise specifically provided by law.”The Law states that public records "shall mean all documents, papers, letters, maps, books, photographs, films, sound recordings, magnetic or other tapes, electronic data-processing records, artifacts, or other documentary material, regardless of physical form or characteristics, made or received pursuant to law or ordinance in connection with the transaction of public business by any agency of North Carolina government or its subdivisions."

In this podcast is discussed how difficult it can be to underwrite for foreign investors; however if you have income being deposited monthly, as long as you can provide the financial documentation to trace the money that may help the situation.  

And of course document the current condition with plenty of photos and inspection results (toilets function, drains function, etc.)

On Performers, FCI has a low priced fee to collect, send all required tax and other documents to homeowner, and you avoid any Dodd/Frank, TILA, FDCPA, etc. issues.

It's not a formal document, just a simple paper that spells it out and gives them comfort you won't be taking them to court later. 

Your use of the word "flip" implies that you are purchasing the properties primarily for resale and as such they are not eligible for 1031 exchanges.There is no statutory holding period or statutory laundry list for how you document your intent.