In evaluating seller financed notes, there is always a balance between redeeming and non-redeeming factors. 

In collecting and evaluating data.  

If you need tools to aid your evaluations, feel free to connect.

What are some red flags I may be missing in evaluating this?

I have 3 accounts per property which helps me leverage APY on savings accounts, prevent funds from being comingled, and easily set up auto payments for things like mortgage payments and utilities. 

So, an investor could easily cashflow right away.Those days are over.Landlording is a long-term play.

I did not pay for the course or get any deeper because I figured 1) High return = high risk, and I am at a point where I can't afford to lose that kind of money; and 2) I didn’t see a value in a course- why not network with local investors who need down payment, and work it out directly on a deal that I could more easily underwrite?

If you have the data easily available, can you give us cash flow figures throughout the 13 years? 

Can you easily find cash purchases close to the property and things like that?

I’d aim for low downpayment land contracts and lease options.After refinancing out of the FHA mortgage, I’d evaluate if I wanted to repeat the 2-4 unit FHA 203(k) process again or if I had the 20% down to target 5+ units.Good luck with whatever you decide to do!