But, you definitely get the red-carpet treatment for your first property.

It's not too late to take control.A huge red flag is flying if suddenly some other title company is willing to close.

Personally, I'm wary of anything north of Delmar (outlined in red in the photo):Feel free to message me if you want to discuss the opportunity in more detail.

I called city today and it sounds like there is some "red tape" to get through, but it is doable.

If you have any advice on what attractive terms would be that wouldn't send any red flags up, I would appreciate that advice. 

If the appraisal is that far off it would be throwing huge red flags for me, even your own calculation puts it as a negative equity investment after rehabbing it.

Spot any obvious red flags?

Cardon podcast, but he had a story about a competitive offer.In his case he did a video of himself explaining who he is and why he wants to buy the property and what he plans to do for it.He also added that he was going to catch a red-eye coast to coast flight to mee with the seller the next day.This was a big property, so I wouldn't add the red-eye part ;>))Cheers,Buddy

That's a huge red flag to me, short of clearly showing reasons why.

In my experience dealing with 1,000's of tenants & even 1,000's of potential investors the fact that you know he drives a BMW is a huge red flag.