What are the legal considerations in flipping property?

What are the legal considerations in flipping property?

Michael Corbett (Real Estate Expert) gives expert video advice on: What is real estate development, or 'flipping'?; What is 'real estate speculating'?; Who can engage in real estate flipping? and more...

I'll give you a great piece of advice. When you're going to flip a property, which means your going to buy a property, you're going to fix it up, and then you're going to sell it, don't cut corners. Do everything to code, and make sure you get permits. Because when you go to sell that house, I want you to disclose all the work that you did. Because you're basically buying a product and then selling it to someone else. So, you want to everything properly, legally and to code.