I host a country music radio show out here in san diego, I freelance for Country Weekly magazine, interview celebs all the time, go to red carpets, yeah.  

Usually the attorneys order it from a company (like ours) then double check everything and run down red flags and can give you legal advice on anything on the search.  

Hi Kevin,Most likely it will count against the DTI and it will most likely raise red flags for the underwriters.

You know, the old trade 4 green houses for 1 red hotel strategy. 

Definitely do away with the awningsMaybe paint or buy a red or brown front door, make it pop a bit ;)

Seller knows he/she will have to contend with them someday - maybe it'll work out for you.Tenant who can't afford gas is another red flag, especially in Indiana.

During the inspection there was 1 of 4 furnaces red tagged by the gas company, a perfuse smell of gas in a separate crawl space, leaking roof & crawl space, termite damage, structural & foundation issues.

My plan would be to live in the smallest unit of this building (the 1BR, so technically you could remove $750 from the total monthly rents to compensate for this).Even with only counting the 2 larger units in the numbers, I figure I could break even after the mortgage, taxes, insurance and utilities are paid, which means all maintenance costs put the monthly cash flow in the red, unless I could buy it for less.

Red might be a bit to McDonalds :). 

Since this is a historical rehab, there is plenty of extra "red tape" so I bounced a little between phase 1 and phase 2 on this flip.