The previous owners did a do-it-yourself remodel which had tons of red flags if I had taken the time to cross-reference the sellers disclosure with the inspection report, but at that time the market was hot and I had to move fast.

What’s the biggest red flag you watch for when vetting borrowers?

Just from the little you wrote, it's pretty heavy on the red flags. 60 days on the market (depends where this is whether that is a lot or just fine, but definitely overpriced at this many days) plus no sold comps.

I just find that they aren't worth it because of all the edits you have to make on the spreadsheet to get the same result, and one of the softwares refused to allow Journal Entries which seemed like a huge red flag to me. 

Melissa DSCR loans are business purpose loans therefore there is much less documentation and red tape to deal with vs conventional financing.

Would you dig 120 feet of trench 3 feet deep, and get the material, for $350?

Though fee schedules vary by company, generally speaking, you'll pay more up front for checkbook control and less over time, since the full custodial companies will have transaction fees not to mention the red tape of going through the custodian for all transactions. 

So, those who have been hit with there financing adjusting to triple and quadruple the money cost, slingshotted from life in the green to being deep in the red.

This means that, for a forced sale to happen on a significant scale, we'd really need to see a deep recession in the US.

You can't purchase the software stand-alone (red flag for someone with some experience).