I had the feeling that the notion of financing wouldn't work out nicely for auction homes.  

I don't have one .Perhaps it's just easiest if we all agree a properly-managed LLC could be one layer of protection in a multi-layered approach.I do take issue with the notion that an umbrella policy limits your liability, as some have claimed.

Here are my red flags :- A renovated property has been on the market for over a year would be a huge red flag for me-Looking to get a seller down more than 50% of their asking price will probably be a lot of time wasted-I have seen the "romantic" notion of restoring large old homes take down many a house flipper.

The close to close notion is very good to know.

I don't mean this to sound obnoxious, but I really thought that the notion that the value of real estate has tracked inflation was well known and well accepted.

Is perfectly good the simple notion of payment history?  

I would also second his notion to contact tank removal companies and see what they say, do not leave it to the seller.

However, cap rate in real estate is somewhat a notional concept, unlike a yield which is driven by, hopefully, a fixed or perhaps increasing distribution.Does that make any sense?

And I will second the notion. 

@Tamara Ratcliffe i wish people would drop the notion that employers just walk into their businesses looking for who the can fire that day.