Recent Transaction in Listing - Is this a red flag?

[Andrew Glenn]

Hi All, 

I'm a new "investor" - I'm not sure I can even call myself one yet. My wife and I have a primary residence here in the Temple market and a rental unit in the DFW area (former primary residence). We're still very much getting our feet wet, but we're trying to learn the local market. 

I do understand that each market is unique and what works in one market does not necessary work in another. 

With all of that said, I came across this listing today. We drove by and it's in a decent neighborhood. I pulled it up on Realtor.com just now and I noted that it was sold in mid-April and re-listed 6 weeks later and the price has been going down since. 

We're not in a position to act on this property in any event, but is the recent transaction history a red flag for anyone? My first thought was a flip, but from what I could see in the property, no improvements have been made. Maybe a local wholesaler?

http://www.realtor.com/realestateandhomes-detail/4...

Thanks

Andrew