Those who make me think like Red here.... 

Is it to have a property up there that you can rent out and then have for yourself when you go to Red Rocks?

Has a big red/green start/stop button and you can add notes.

These are are always red flags but will often be overlooked by novice investors. 

any red flags etc to check for?

@Eve Favorse the first red flag was the nonrefundable EMD.Would not have even bothered making an offer with the condition.

Tower Hill- Called them and the woman I spoke with could not tell me if they covered what I am looking for or not, said I had to contact a insurance agent and not them directly. 

While there are several reasons why you can be targeted for an IRS audit (including running for an office, it seems), the most common reason is the IRS computer finding enough "red flags" in your numbers. 

But for me, it is a big big red flag.

As someone with no experience investing into a syndication, is this normal, a red flag, or possibly ok depending on other variables?