If he doesn't have any extra cash for that expensive a rental, that is a huge red flag.  

Your renter is giving you two red flags - no rental history (which may be a lie and he has been evicted before and doesn't want to tell you), and bad credit, which means he's cheated someone else out of money. 

I notice it has been for sale since 2018 (red flag).

Would you consider the lack of rental inventory in those areas an opportunity or a red flag?

Actually, some accounts still in the red.

Specifically, I would remove the red chair in the living room entirely. 

If they’re not willing to share, that’s a red flag, and you should walk away.Earning Money As An InvestorThere are two main ways investors make money on real estate syndication.

A lot or great smaller syndicators out there where you will get more that red carpet treatment.

If all the numbers really worked on this deal I have no reason why a lender would not lend on this however since the deal seems to good to be true that will certainly raise some red flags.

The market is red hot right now and you can easily make $200k or more in that area with retail transactions.