That’s what I see  So thats the contradiction is that. and thats the red flag for me....they live a debt free life but have a car payment.

What to Stay Away From: Are there any red flags or pitfalls that I should be mindful of when selecting properties to flip? 

He doesn’t estimate prices for repairs but flags needed repairs mercilessly.

Without knowing more details about the specifics of the project being proposed as it relates to your property, it's hard to say if there are any obvious big red flags that could negatively impact your property's future value.That being said, I would try to find out as much information as possible about the new apartment building's design and layout - the two big things I would try to ascertain would be the location of the garage entrances/exits, as well as the location of any outdoor amenity spaces (pools, terraces, dog runs, etc).  

Way too many Red Flags and lack of transparency.

In this day and age, not having a online Prescence and clearly documented track record is just a huge red flag

If you use that @ symbol and the name then that will flag us (like I did with you) but here are your answers:Yes, the 10 loan limit is a Fannie/Freddie limit.Basically a credit union is a "not for profit" lending institution. 

But if you're realtor is not pointing out issues that could get flagged during this inspection you might have some surprises on the deal.

What red flags should I look for that would lead me to see a property that has been sitting as an “unwise” investment

If they are not, that's a red flag.