Works well for house hacking and paying contractors yourself you get the work done way cheaper without all the red tape. 

Louisville is still a red hot real estate market especially in the urban core but we've gotten to the point here the best neighborhoods have been gentrified and all the old housing stock has mostly flipped.

- any other red flags with this?

This should be a red flag.

If your best case scenario is 100/door with only 5% vacancy and no PM fees/variance/cash reserves being funded monthly, there’s a high likelihood you’ll be in the red in my opinion based on the info provided.

She has offered to view a 3-plex that we liked and send me photos and a video with comments on anything that might be a "red flag", as far as the condition of the property. 

Several things are red flags: the low purchase price, especially for a duplex, almost certainly means one or more of several things: it is in an undesirable neighborhood and it will be difficult to manage, they didn't do much on the rehab and it will have some very significant differed maintenance, it will be very difficult to exit without a loss because it won't appreciate. 

Anytime someone starts talking a lot, or obviously researching stuff, screams red flags... you probably know the entire situation is a red flag and just wanted confirmation.. so yes, it's a red flag-- yes, you should just serve the notice of non-renewal.   

So we got it done for him.. request on MOnday funded on Friday.. saved his deals. he was lucky he knows me and we have a track record other wise he would have been weeks and weeks apprasials red tape to get it done.

A quit claim deed is somewhat of a red flag.) but I do not believe Mike is right about the title insurance.