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.

We believe rehabbing this house could be a great addition to our portfolio.I’ve consulted several architects who’ve indicated that I could potentially build up to seven 1,250 sqft homes on the lot.

Like the comments before indicated, big banks aren’t always the most advantageous when financing a home.

(vii) would seem to indicate that you'd be acting as an unlicensed broker.(1) "Broker":(A) means a person who, in exchange for a commission or other valuable consideration or with the expectation of receiving a commission or other valuable consideration, performs for another person one of the following acts:(i) sells, exchanges, purchases, or leases real estate;(ii) offers to sell, exchange, purchase, or lease real estate;(iii) negotiates or attempts to negotiate the listing, sale, exchange, purchase, or lease of real estate;(iv) lists or offers, attempts, or agrees to list real estate for sale, lease, or exchange;(v) auctions or offers, attempts, or agrees to auction real estate;(vi) deals in options on real estate, including a lease to purchase or buying, selling, or offering to buy or sell options on real estate;(vii) aids or offers or attempts to aid in locating or obtaining real estate for purchase or lease;(viii) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real estate;(ix) procures or assists in procuring property to effect the sale, exchange, or lease of real estate;(x) controls the acceptance or deposit of rent from a resident of a single-family residential real property unit;(xi) provides a written analysis, opinion, or conclusion relating to the estimated price of real property if the analysis, opinion, or conclusion:(a) is not referred to as an appraisal;(b) is provided in the ordinary course of the person's business; and(c) is related to the actual or potential management, acquisition, disposition, or encumbrance of an interest in real property; or(xii) advises or offers advice to an owner of real estate concerning the negotiation or completion of a short sale; and

She gave me no indication that I needed to file any additional anything.  

A BP personality recently indicated he pays $50k annually for his accountability group.  

It sounds like most of your issues were insurance-related, which indicates this is a risky market based on natural disasters or something.

It also indicates they didn’t break their lease early, which could disrupt your rental schedule.2.

Here's a summary of what you need to know:Population greater than 1M and growth rate: The source for metro population size and population change: WikipediaCrime.Operating costs: State income taxes are a good indicator of government efficiency.

That indicates he's wishy-washy and just as likely to want to break the lease again in another month.