The idea behind BRRR is that you finish the rehab and you are ready to rent the place out and move into a cheaper/longer term loan product immediately and then on to the next deal. 203k loans, in addition to the extra red tape and requirements like using a licensed GC to do the work, have 2 major caveats: the property has to be livable and it has to be owner occupied.

If they're not, walk away because that's a red flag.5.

While guests should know it is a duplex, and for some, they might want to rent both units, (your numbers will answer that) your title does not need to be a red flag.

@Jonathan Partsch I rock at design on a budget.

(I'm originally from Redding, CA and due to the fires, etc.

Bob, everything your listed is a red flag, people should watch out to.I don't know you personally, but you don't have any references to a brokerage of your PM company, you're trying to tell OOS investors that East Cleveland is OK to invest when it's clearly danger zone.I'm not trying to be cool - just warn people to be more careful what broker to affiliate with.Do you care to share the name of your broker who would manage properties in East Cleveland?

I decided that I'd like to search for a seasoned/experienced wholesaler who is looking to teach someone to birddog for them; as in what to look for in a deal, what red flags to avoid, how the local market works, etc. 

Is there any tips on major red flags to look for? 

Definitely talk to some of us "locals" though about the area the house is in and the returns you *should* be getting. 2% and 3% rule deals are possible in Little Rock, so don't settle for 1% if you're in a neighborhood where you should be getting 2%. 

Closing in four days sends up a huge red flag, but its possible it was related to the seller and had nothing to do with the property.