I'm kind of in your boat -- willing to jump in the deep end and do the work in order to earn financial freedom.

Think of Sears, Toys"R"Us, Best Buy, CVS, Dollar Stores (600 Family Dollar Stores are set to close; 370 Family Dollar and 30 Dollar Tree), Walmart closed 11 in 2024 so far, Applebee's, Red Lobster, Stop & Shop, Rite Aid, Lehman Brothers (a 158 yr run), Bear Stearns etc.

There will be red flags that jump out at you...obvious drugs, poor/no work history, etc3.

I know cat urine can be extremely tough to get rid of and will have to possibly sand and deep clean floors and then seal them.Main question: Is it possible to fully remove the smell of cat urine?

As I will not be living in the area it is imperative that I have a solid and active team on the ground, and I'm looking to connect with folks who have a deep understanding of the area and would like to do work together. 

If so, that's  a red flag.

Before you get too deep, I'd set up a planning meeting with PandZ and get some feedback and direction. 

There are similar ones for San Fran that are even worse: ;t= California is just trailing the mid west /  rust belt/ Deep South that has already been through this the amount of vacant commerical in the mid west is just as staggering as what is happening now in CA.. and it was for the same reasons..

What to Stay Away From: Are there any red flags or pitfalls that I should be mindful of when selecting properties to flip? 

I believe right now is an amazing time to get into real estate as there's deep concern and even fear in the marketplace which is just when you want to come in.