@Andrew Jennings FreerksAllan mentioned $180/sft build cost in our market and that is correct for those finishes.I imagine in your area it will be much higher as you live in a very regulated market with tons of red tape for building homes. 

Is it a red or yellow flag?

It is definitely a red flag not having a strong online presence but does not guarantee they aren't legitimate.  

Sounds like a red cross disaster experience. 

These small loans are sort of the red headed stepchildren in the lending world. 

@Claudia Del Leola It is sometimes desperation on the tenant’s part which Is usually a red flag.

I know, Red Flag City, but we tried to make a deal work and offered many different options to get both tenants on our lease.

There is no doubt that government involvement can help in many cases, but investor returns can often be negatively impacted by programs like rent control and eviction restrictions and navigating the red tape that can be required by any development or improvement plan can be challenging at best.

Big bold letters in the contract, in person, and again at closing:"This transaction WILL affect your ability to obtain financing for future large purchases"With that, I would highly suggest not keeping it for a few years.

Be bold!