One market shift and you're in the RED. 

Or do other investors see this as a red flag and would prefer to have current leases?

And, if they had issues in the far past, it can still be a red flag too.

Big red flag.

If they won't manage a property because of the neighborhood, then I know that is a red flag for me to avoid.4.

Looking at some properties around there and it seems to be the norm to have a cesspool in a few towns (WW, Coventry, NK/SK)Any immediate watchouts or gotchyas / red flags?

Thats a red flag.  

Quote from @Preet Sekhon: Just wanted to flag something potentially impactful for real estate investors: it looks like 100% bonus depreciation might be making a comeback next year.

There’s always demand for rental properties, and with the landlord-friendly laws, you don’t have to deal with all the red tape you might find in other markets.

Here's what I've learned:Inspections Are Non-Negotiable: Always get a full inspection, but don’t stop there.Plumbing & Sewer: Have the plumbing and sewer systems checked specifically, as these are common problem areas in older homes.Electrical System: If the inspector flags any electrical concerns, bring in an electrician during the inspection phase for a detailed evaluation.