With the recent zoning changes happening, often times the land value can be quite a bit. 

ask, I assume cheap its a war zone)  reno, and lock box ?

In Reno, NV we have newbuilds that're called "Next Gen" that have a separate in-law suite (w/ out a stove to adhere to SF zoning). 

Testimonials are a huge red flag to me as they are difficult to verify and could be paid actors etc.

I did most of the work other than appliances ect it’s very small 400 square feet total so it’s like a little studio with big glass sliding doors to a patio.Turns out someone called zoning and long story short I was told I can’t do an ADU.

But 2-4 units is Chicago is extremely complex with 100+ year old buildings, Chicago zoning, department of buildings with violations and inspections, plus the RLTO. 

There are exceptions to these areas with occasional transferrable permits or commercially zoned properties. 

Requiring a wire is another red flag. #1 seems relatively normal

We didn't expect the fact that insurance should cover short term rentals but raises a red flag for lending during the 30-60 day period after closing where they make sure you're not using the home as a rental.

On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?