Based on the info you provided, there are strong red flags.

Let's rock it ladies!  

This would be our first rental and I think it could be a good opportunity long-term, but it feels like there’s some red flags here.

Anyone bragging about how much in assets he has bought with other people's money, while getting non-recourse loans is a huge red flag that it is all hype and ego. 

- Are there any red flags or cautionary aspects I should be aware of?

I feel that stories like this help keep everyone safe and promote doing good business by educating the public on red flags to watch out for.  

I live in Redding, CA, Corelogic says our appreciation rates going to be 7.6%.

Gravel he had not paid for and owed them hundreds of thousands  we paid for the rock and made him give us supplier receipts for the rest of the project and paid suppliers direct. 

If you feel these red flags are irreparable, ask for concessions or tell them to peace.

My 7 unit is about 3300 a month net (about 20% net )  so a bit shy of the 1k per week, but hey I'm on the beach in FL while my props in Cleveland support my life :) I wish you all the best in your endeavors Rock on!