Since you’re in CA, homes I bought in Redding during the bust for 60k are now selling for 190k.

This is a red flag.

I'm not sure if these are actual red flags yet, she's only been there a month but I want to be prepared. thanks

If the tenant/buyer records it that could possibly raise a red flag to the lender.

I personally see some red flags there.

@Eleu Lee 4.6 cap,  negative COC, negative cash flow, .65 income to expense ratio, ....are you rolling the dice and putting everything on red for appreciation or am I missing something here?

And with the rent rate at $1,500, I would indeed be running RED so at the refinance portion of the deal... it is a BAD DEAL. 

As long as you can show there is enough profit for you to pay the loan back and/or provide them with a cut of the return you should be good to go.The flip budget is the biggest thing to tackle because if you are off more than a little it can quickly take you from the black to the red.  

It's been up for sale since 2009,Giant red flag.

All of the negatives you mention are red lines for me.