@Christine Travis from what I gathered Red wants to buy the property from the current owner.

You are diving into a merry-go-round of red tape. 

It's a bad sign.It's probably a red flag when an applicant tells you they need to move ASAP. 

I know there will be some but what is a red flag that there is too much?

All decisions are made in house without the government red tape.

you're in the red.  

Small real estate investing in the Puget Sound region is red hot, with hundreds of local players and there are scores of established investors who can simply write a check for the full purchase price, if they like the deal.

High-end houses tend to have tenant turnover, which can kill your profits and even put you in the red.  

I agree we are in the early innings in Chelsea, which may not be a bad thing compared to red-hot markets like East Boston, but I would be careful of much of the construction quality in Chelsea however.

Megan Forsberg at red apple realtors is good.