Also most of these properties qualify for a 203k loan which is an excellent loan option for an owner occupant though these loans aren't without their own set of hurdles and red tape.

Thank you Jay, I'll keep a look out to see if they hit any more red flags other than no website.

Also are sump pumps a red flag?

Second, there are some red flags with this deal and I'm not sure how much market diligence you do, but the first thing I always do no matter what is look at the market.

I can up this to $400K max and I saw a few properties in Red fin.

What's even worse is I'm told that I'm likely to get audited by the Japan tax authorities because I've listed a previously cash producing asset as suddenly having a gross income of $0 for the entirety of 2017, which is seen as a major red flag.Does anyone have any recommendations for what actions I can and should take given my situation? 

Especially for a new investor, the hassles, red tape, Section 8 nonsense, and high tenant turnover is just not worth it.

I see red flags allover this “deal.”

I've got access to good title search tools and data due to my business associations in commercial real estate appraisal, so it sounds like I just need to put in a little more legwork and familiarize myself more intimately with building codes and structural red flags and bid more aggressively on these properties.Thanks again, invaluable input from all! 

Currently it's rented out for the next 2 months (red flag?).