@Jamie Parker we've got a lot of this already setup for investors in Detroit, so please PM us.Otherwise, the BP Moderators flag our posts for self-promotion:(

If the prospect puts up a big wall and is dismissive about their record, that is more of a red flag than the record itself, but if they were straight forward and honest with me, I will know I can trust them.

I don’t want any flags but don’t want to leave anything on the table For depreciation.Yes you can use reasonable comps.

On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?

Any red flags? 

If your lender is only working with a "list of qualified contractors" thats against the 203k guidelines and a huge red flag. 

What are some red flags ?

That raises a ton of red flags to me.

I have found in the Austin area, appreciation is your best option since property values are so high that rent can put you in the red month to month, even on really great deals.

Also remember the time these returns will take to amend along with the possibility of opening up audit periods/red flags with the IRS due to amendments.Doing this yourself on turbo tax likely won't be your best bet considering all of the details.