I went to the property and some other red flags came up.

- How do you assess the market and identify red flags?

No one is missing opportunity with the land bank properties, it is just surrounded with red tape and corruption.

Red flag.

Sellers did not allow us to get professionals in to give estimates for a french drain before closing (yes, our red flag we should have walked away with), but agreed to lower closing price.

Got out of that deal - too many red flags. 

., tours, etc) however, many applicants had evictions and poor credit history (low credit score doesn't bother me, but when you have 7-10 credit card and personal loans in default, it's a serious red flag.)

It turns red if the date is more than 2 weeks old reminding me (in case I forgot to add a reminder) to call the person.

So $1,200 appraisal would be a red flag for me in itself.

Financing either is a bad idea and will raise a red flag with a lender who will look at sources and uses of the loan request.