While a low fund isn't an automatic red flag, it's definitely something to look deeper into.

Every unit is safe and would pass inspection, I'm just getting screwed by government red tape..

Exclusively north of Red Deer and into parts of Sask as well.  

My company is Red Key Services LLC if you want to look me up. :)

This way, you will eliminate the custodian completely with its fees, red tape, etc.

Are there enough red flags that I should run for the hills?

But we want to at least not in THE BIG RED every month. 

They can help you interpret the documents and identify any potential red flags.

After attending an awesome BP meetup in Philadelphia (hosted by @Troy S.) some red flags have come up regarding the structure we're looking to use to fund our first flip.My partner, @Phil Sabella, and I have connected with a financier/partner who does JV's.  

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.