If you’re only getting 7 inquiries in 15 days with no applicants, that’s a red flag.

What Nathan said.You are following the red herring of the (real or imagined) roach problem, but the tenant just told you they cannot afford a $35/mo. rent increase in an under market rent apartment!

I have never pulled a permit for a water heater swap, know no one that has ever pulled a permit for a water heater swap, ever seen or heard about one getting red tagged for no permit, and have never had a plumber recommend getting a permit.

The latest red flag is his belief he purchased a "fully renovated" property in Philadelphia for $115K.

If part of the property is rentable while renovations are happening, that could help offset carrying costs.Given your construction background, you’ve got a huge advantage in managing the project efficiently—it’s just about getting through the red tape and de-risking the unknowns before pulling the trigger.Have you talked to any local investors or contractors who’ve tackled similar projects in Wicker Park?

If 4 syndicators offer 10% and another is offering 15-20% then a red flag should go up and ask “why is this one better” if the operator says it’s because their secret sauce I would laugh. 2.

I gravitate towards "red states" given the landlord-friendly laws and relative ease of evictions, which unfortunately are unavoidable in the buy and hold game.

I dont have any red tape around what I can discuss.

This is more of a reach goal for me since I am still in my "collect 4 green houses before trading up to a red hotel" stage, but I thought I would ask the hive mind anyways.

I can kind of understand that he wants to make sure I'm legit but that's a bit of a red flag for me.