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

I'm not bold enough to buy real estate at negative leverage - few deals in my area (and I presume, Manhattan), are trading at "Cap Rates" greater than 7%. 

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

The company is strategically closing underperforming stores as part of its "Bold New Chapter" turnaround plan, which focuses on enhancing its top 350 "go-forward" locations while monetizing other properties.

When you do that change all of your ad titles to note in BOLD at the beginning something like REDUCED PRICE or $100 OFF/MTH END OF SUMMER SALE.

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. 

A few of my red flags: He didn't call me, she did. 

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.  

I agree with the answers above and that condos have a lot of red flags for STR investments.

Less governmental involvement, restrictions, fees, red tape, etc. here in SW Florida.