The only positive to come out of this is that I learned ALOT of things of what not to do.Win or Learn I guess.

Does anyone have any tips on what to discuss or what not to discuss, what are some definite red flags I should look for, etc. 

I am grateful for this experience however, because I learned what NOT to do when flipping a home.

What to say, what not to say...

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

I just will not be coordinating repairs, cleaning and what not. 

As far as what to ask and what not to ask, if you connect with a mortgage banker such as myself, those are items you wouldn't need to worry about as we take more of a consultative approach.

I will try talking with banks more as I have not done that yet and it will help me focus on what I can afford and what not so thank you for that.

@Caroline Hedinno, the price is just his to do his work, the permits and what not will be added to this. all in all he figures around 40 grand before I'm allowed to put a shovel in the ground.

Tyler Ansell this is still a good learning topic for new upcoming landlords as to what not to do.