my lender is also offering to be my real estate agent - can he do that legally?

Yes it s legal for conventional financing Not for FHA financing. it is of course your choice as the consumer If he has his NMLS and Real Estate license and if his real estate license is hanging at a real estate office, then yes. There are lender/realtor offices around

be careful and be sure to review anything you do and sign carefully

Yes... but dumb in my opinion. Too much conflict of interest, and also part time Loan Officer and part-time real estate agent probably equals not the bast person at either.