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?

Hi @Jeff HinesCongrats on being bold and asking for help and advice from investors.

Thats a red flag.  

Anyway he made a video about the market being red today and then showed, very casually that his portfolio was up 24% on the same day!

Certainly not afraid of it -- the government red tape is Partly a question and difficulty removing a bad tenant is probably he biggest downside - that goes for any property though.   

To me this is very market dependent and product dependent.. in our Market some developments that are red hot that Lennar owns they might only offer 5k on a 600k sale.

What’s the biggest red flag you watch for when vetting borrowers?

The previous owners did a do-it-yourself remodel which had tons of red flags if I had taken the time to cross-reference the sellers disclosure with the inspection report, but at that time the market was hot and I had to move fast.

In my experience in foreign countries, there is often less consumer protections/ no central MLS or licensing/ greater risk to the principals, much more red tape, and overall higher transactions costs than here so it's important to look at the whole picture not just the commish %.

But there are also some real challenges, like dealing with lower tenant quality on average, the extra red tape, annual inspections, and the longer time it takes to get tenants placed compared to the open market.