I recently had a conversation with my lender and mentioned I would be purchasing a property as my primary residence.  I would live there while fixing it up then renting it out in a year.  She cautioned I need to be ca...

Within the IRS technical audit guide they specifically highlight being several hundred miles away from the property as a potential red flag. 

Seems that way in the business of Land Flipping...which is a red flag in my eyes...maybe it's not a part of the real estate sector I need to get into. 

Great post - I have several inquiries for clients with the desire to own coastal STR's and just noticed the red tape is suffocating when I would dive into listed opportunities and feasibility with the municipalities. 

Quote from @George Red: I echo what @Jon K. said... if you're still interested after doing some additional due diligence, try starting with 1-3 as opposed to jumping into 10.

@Nathan Gesner didn't see the space heaters that would be a hard no for me.  At

Many years ago, we had NPLs in NY and the bureacracy and red tape was staggering.

It's important to understand their reputation in the industry and the market, as well as any potential risks or red flags.Knowing your client's objective is also crucial.

I could technically get $332K out, so this leaves a little meat on the bone to cover closing costs, potential unexpected rehab issues, etc.

Applicants offering to pay extra are a red flag.