Purchase price: $140,000 Cash invested: $75,000 BRRR SFH in red hot Texas - not a perfect BRRR as we did not get all of our money back, but some serious lessons learned and still cash flowing.

If y'all see a house that is listed well below the price of comps in the area what are some red flags you look for? 

Just to add to what @Jonathan Greene said (which is all true), there are way too many layers of red tape in short sales to make this a viable avenue for wholesaling, plus the odds of getting an appraisal to work at a number that not only profits the buyer, but a wholesaler as well - never going to happen.

Is there anything that I'm missing, should be looking for, or is a red flag for anyone overall?

That's a red flag.

Please share more of what happened.Sending money prior to closing is a red flag. 

Since we are getting so close to Thanksgiving and the Holidays/winter it will be more difficult to find a tenant.Since the tenant will be on a month to month it gives you a lot more flexibility to decide when they need to leave - see my recent response to the post “Mostly Month to Month Tenants in Multifamily - Big Red Flag?”.

Those are usually red flags that mean it will be extremely difficult to attract new tenants, sell any homes, and raise rent.

Don't let your excitement and determination to get a deal funded blind you to the notorious red flags of so called Private Money Lenders.

@Peter Kozlowski Don't necessarily think this is a red flag.