Was this a red flag?  

Or red flags I should I look out for should I make it to the inspection period?

I am 26, and live in San Diego, CA with my amazing wife and a great big red Golden Retriever named Cooper. 

Does anyone see any red flags or things we should be considering with this scenario?

Look at the contractor's own contracts, if he or she does not have their own contracts then they are not truly serious about their business and is a red flag to me.If you do want to take the risk of using a cheap general contractor or using cheap subcontractors then I would develop your own master agreement for your contractors and have them sign it in order to let them know what the standard is.

If they do not have any then they are not that serious about their business and this is a huge red flag for me personally.

I have potential tenants who seem very serious on moving in as soon as they can, but there are a few red flags and I'd like to know what other landlords would do in this situation. 

Would this be to much red tape for a newbie?

Where there any red flags on their application?

owner has not rented it out this semester due to do some rehab, actually did most of the bathrooms and they are in good shape, carpet is awful, needs paint, kitchen cabinets and better lighting. lower level apt needs gutted due to toilet leaking from above. here are the numbers:purchase price 330krents last semester avg=333/month, did not rent over summer, "I let them just leave their stuff til the next semester", my friend was seeing RED after this statement...expensesrents (if occupied at 333)=3663/monthtaxes 2200garbage =100 (actual quote from WM)water and sewage 525electrical=passed through to tenantPM=started looking, but quotes at 8-10%insurance= 300 (est.)planning on ripping carpet out and going with vinyl hardwood throughout, new cabinets in kitchen and paint, fix lighting and general clean up. plan to get rents up to 500-550 month, lease term 1 year. interviewed PM and he said they take one month's rent for placing a tenant, is this typical?