Do agree on the red flags part.

Having had similar experiences in the past, I will add the glaring "red flag" that is visible to me.

I’m in the red hot market of CT and just went under contract today for a duplex near a college.

The town of Camp Nelson is in Tulare County which is a “red” county in a deep blue state that is favorable towards landlord and STR rights.

I bought with a cash-flow on day-1 and could tolerate two vacancies before creating red-ink, so it's crazy to be penny-wise and vacancy foolish.I know there are those here on BP that harp on hobby vs professional business operations, but there's more to the bottom line than just GSI - - consider the opportunity losses created by vacancies.

So if someone bought it at the tax sale and then didn't want it and didn't pay the tax on it, that is a big red flag that they may have found something wrong with the property and decided to let it go.I would do some research on what you bought.

I definitely need to stop this in it's tracks so the smell doesn't TOTALLY infuse the place@Bjorn Ahlblad  I guffawed when I red your reply! 

But there is no visible building on Google Maps, and Xome.com states 0 square feet for the structure.Big red flag: I got it for 16%, the maximum interest rate in an interest rate bid down state.

Red flags all over!  

Would you consider it a red flag if some GPs don't share their pro forma?