My name is Ben and I am about a month into diving deep on real estate investing education.

BPRE: is great when it’s problem solving and good when deep diving on a strategy.

Quote from @Jay Redding: @Wade Wisner -  Most of the notes that we purchase we keep in our portfolio and borrow against them with private capital.

Would you have any recommendations, in your experience, for what to look out for in the documents that would be red flags or items that would negotiable?

While that kind of income is not a deterring factor, when I looked over the terms of service many big red flags came up.

Save up and buy deep.

For value add you need to buy deep, have reputable contractors, and understand different financing products + creative finance.  

Now is the time to dive deep into researching the markets you’re considering.

You looked past a red flag right at the outset:"When application was made tenant was I am not going to to have my puppy with me so do not need pet fee or application"Total red flag.

Beyond the bedrock issue, soil conditions can be costly if the property has problematic soils such as too much silt, deep topsoil, or extensive wetlands.You'll also want to know what ordinances are going to affect your budget - things like tap fees, tree ordinances, storm water retention policies, etc.Bottom line is that you have to investigate ordinances, off-site conditions, and on-site conditions before you can even begin to budget your development.