My guess is the reasons above (time, cost), but there could be disclosure items that would raise red flags.

A lot less red tape than the traditional lenders.

Lawyers Title on Red Bank Road in Cincinnati.  

Owning an investment house with a good property manager is not hard work on the owner's behalf.The market to sell is red hot, most properties are reviewing multiple offers in the first few days, sometimes hours, and often selling for way over the asking price.

Wouldering if would be a red flag?

@Ryan HoganThat’s Red Raiders to you!

I'm just not a happy person.From childhood’s hour I have not beenAs others were—I have not seenAs others saw—I could not bringMy passions from a common spring—From the same source I have not takenMy sorrow—I could not awakenMy heart to joy at the same tone—And all I loved—I loved alone—Then—in my childhood—in the dawnOf a most stormy life—was drawnFrom every depth of good and illThe mystery which binds me still—From the torrent, or the fountain—From the red cliff of the mountain—From the sun that round me rolledIn its autumn tint of gold—From the lightning in the skyAs it passed me flying by—From the thunder, and the storm—And the cloud that took the form(When the rest of Heaven was blue)Of a demon in my view—Edgar Allan Poe

Are these red flags or easy fixes?

Schnapf  I agree 100% whenever there is an environmental issue with a property and the state will fund or supplement the remediation, its worth going through a little extra red tape!

My goals when touring a property are to confirm my assumptions, get a feel for the neighborhood, notice any red flags, and build rapport with the broker.