If total, then you'll be in the red.

This hurricane red tagged many of the properties on the beach near our duplex. 

Now, of course, every city and state is different, but that is a red flag that it may not even be a real notice?

I have since put everything back on ebay and have sold it all, getting most of my money back. ( Very proud of myself for figuring out a way for a broke *** red neck idiot, to get basically a free Real estate investing education which so far has made me a buck or two,)    :)     Even today when I feel I need to get current in trends and techniques I go to ebay for some easy listening material, but I've found that most of it is just rehashed fluff from the origional gurus from my early years.

Foundation issues, fire damage, leaning walls, collapsed roofs, are massive red flags. 

sheet rock from house. $1100.

Claiming REPS is a red flag for auditors, so be sure you log everything in detail with your CPA from day one. 

Is this a red flag?

And is walking into a turnkey ready to rock building, the seller (whom I am presuming is now broke, but that may not be the case) even left the tables and chairs behind, all ready to have plates full of unethical inorganic genetically modified red meat dipped in butter placed on them. 

@Ashish Wa You have to be careful with local laws but ESA is definitely a red-flag.