Any red flags ?

Hey @Peter Faulkner, that definitely is alot of red flags.

Some red flags to watch for are inconsistent fonts, blurry text, or mismatched information across pages.

There is no reason they shouldn't advertise the unit prior to it being vacant unless they have no idea of the current condition, which is its own red flag. 

@Dan DeGroff - I think you can probably do this as a primary residence since the scenario makes sense (e.g. you travel to Aspen for work during ski season), however, there are some major red flags here that you will need to explain and support during underwriting (e.g.

IMO a bigger red flag would be poor record keeping on expenses and other documentation that would indicate property condition.Anyway, you're ultimately purchasing the income stream that *you* can achieve, not what the seller achieved.

How are you going to deduct mortgage interest, depreciation, property taxes, insurance, etc on the cottage tied to your primary home - without getting flagged for an IRS audit?

But, the situation you spelled out raises a lot of red flags. 

That would be a red flag for me personally.

What red flags should I be aware of?