Absolutely not, but every investor should see the red flags and consider their alternatives before moving forward. 

I like the idea of it being a very Red state, nature activities all year round and I think that areas like this are scare and will continue to appreciate if they continue to keep their beauty and policies. 

Is there anything that stands out as a red flag, or perhaps there are areas you think could be worth negotiating on?

I think they are rent capped by the government (I wonder when that runs out), so raising the rents is probably not an option, and having experience in this niche with all of it's "Red Tape" and paperwork would be helpful.

Never send money in advance for their fee's  NEVER. thats a huge red flag that they are just out for fees and are fake lenders.2. bad or not really good written english .. on the phone they sound like they are off shore ( which they are ).3. rates  lower than market most of the fake lenders will advertise 5% rate that does not exist.4. insisting you pay for mortgage insurance  there is NO mortgage insurance on PML HML loans does not exist.While NMLS registered and state licensed is a good way to vet a lender keep in mind only 12 states require it.

This doesn't necessarily mean more tax, just more red tape (and definitely a higher fee from your CPA).

Too many red flags here.   

If someone is refusing to show their ID that is a red flag.

I think they're saying 43k of net profit before factoring in the mortgage, which will then put them well into the red.

And at <150 the PMc is generally in the red hemorrhaging $ on labor. ~180 is the "sweet spot" per Pm.