Asking Price significantly lower than previous purchase price?

[Joshua Lenart]

I have been noticing lately that there are some properties that have an asking price that is millions less than previous purchase price. For example, a property I am interested in was purchased for $6.8 million a few years back and now for sale around $956k according to property appraiser. The $900k is actually a realistic price and could have positive cash flow. Note: The property looks healthy and normal. This is the second time I have seen this instance where a property sold for exponentially more a few years ago. Is this a red flag?