For example I understand your brother is in charge of maintenance, but what if he wants to go super cheap on something that breaks later on and it cost more money.

All the time I hear.... if your new use Hospitable and then later once your accustomed to managing a STR you can change to another PMS that's more in-depth.

DST's have their place and purpose but are not the end all to be all investment.You need to still make sure the deal is sound and if you need to exit the DST is it allowed later and at what discount would you need to sell off your shares.   

I look at it like this, if the place is vacant and they aren't bringing tenants in, but still want money plus charging you a boat ton for "repairs" see you later.  

Lastly, I have been lenient with the tenants regarding late rent.

And then a few snowflakes again a week later. 

The notice of defaults is definitely something to consider and you point out one of my worries is having the buyer be good with the terms initially but later on fall through.Thanks for sharing your experience and I will be very cautious of these offers.

You have an owner occupied loan in the mid 6s today (hopefully lower later).

hello I am replying a year later wondering if you made any progress with your client? 

These are things you can see on the front end before you even see the property in person.Red flags that you could discover later once involved in a transaction include difficult tenants and major issues with the property.I wish I had known to start sooner!