Illegal property flipping is best described as?

Illegal property flipping is best characterized by the behavior of purchasing properties, artificially inflating their value through false appraisals, and then quickly reselling them. This practice is fraudulent because it misleads buyers and lenders into believing that the property is worth more than its actual market value. By using false appraisals to inflate the value, the flipper can secure excessive financing based on the inflated price, leading to significant financial losses for lenders and buyers alike when the true value is revealed.

It's important to note that while the other options contain elements related to the concept of property flipping, they do not capture the complete essence of illegal property flipping as accurately. For instance, merely reselling a property multiple times within a year does not necessarily imply that value inflation or deceitful practices are involved. Similarly, reselling a property for a significantly higher price in less than a year can occur through legitimate means if market conditions favor such increases. Lastly, while inflating property values through false appraisals is indeed a part of illegal flipping, the most comprehensive definition includes the act of quick reselling after such fraudulent appraisal practices, which distinctly captures the illegal nature of the behavior.