@Ivan Lopez the main difference with hard/private money is that there isn't nearly as much red tape to deal with once you find the deal (provided you've gotten a pre-approval).

If this individual cannot, or will not provide a proof of funds such as an account statement, this could be a red flag.

Prepaid rent is a red flag. 

If they are in a rush it's a red flag.

Do you required to inspect that red/full system fire alarm annually?

I'm very administrative and thrive in creating efficient systems.My husband and I currently live in Redding, California but within a year will be moving to his hometown of Fort Wayne, Indiana.

I do property management myself, and though I don't have the volume like some of the big players, when competing with them for a property owner's business, I consistently beat them because I out-hustle, out-work, and ultimately have more energy than them. 

But, that didn't uncover their personality for keeping your property in a livable condition for the next tenant.I am unsure if you were making bi-yearly inspection, as that would have certainly raised the red flag that something is amiss.I am sure this expensive lesson will make you think of improvements in your checklist for administering future tenants.Good luck with your future REI activities.

That's pretty short-sighted, to say the least, which is a big red flag in itself.And, what kind of person would do that to family and not even consider it way outside of the bounds of civilized behavior?

Central Florida is full of credit unions and regional players who'll lend on this.