One big red flag was the basement was all wood, and had a leak in the basement wall. 

Or buy a video.For more information, reviews, and registration links, go to my website and click on Distressed Property.Class schedule:Birmingham - Saturday February 11 from 8am to 11 am at Country Inn, 485 Wildwood Circle N (Homewood/Lakeshore area)Huntsville - Saturday February 18 from 8am to 11am at Baymont Inn, 122 Cleghorn Blvd (Madison)Mobile - Saturday March 11 from 8am to 11am at Springhill Suites, 3655 Springhill Memorial DrBirmingham - Tuesday March 14 from Noon to 3pm at Country Inn, 485 Wildwood Circle N (Homewood/Lakeshore area)Tuscaloosa - Thursday March 16 from 8am to 11am at Marriott Courtyard, 4115 Courtney DrFoley - Wednesday March 22 from 8am to 11am at Holiday Inn Express, 3155 Abbey LaneMontgomery - Monday March 27 from 9:30am to 12:30pm at American Red Cross Building, 5015 Woods CrossingClanton (in the center of the state, at I-65 exit 208) - Thursday March 30 from Noon to 3pm at Clanton Inn, 946 Lake Mitchell Road.

And once again I lived for free (saving me at least $600 in rent).

Quote from @Curtis Brown: If it rents for $2,400 and all your expenses are $2,140 then that leaves you with $260 cash flow and is a good deal.Nobody can predict the future but there's plenty of red flags concerning the economy.

I have inspected it as best I can with the Open House not being an option (should've been a red flag).

There is more red tape when dealing with FHA and also a 401k retirement account.

If you have not managed to save a penny of your own money, that is a red flag that you have money management issues.

@James Wise I literally almost have that map memorized to the point I can look on the map and tell you what should be red, yellow, light green or green.

Hard money sucks, for example, but if you're getting 20%+ off the sticker price then who cares (& people sometimes forget that you can rate/term refinance out of HML into a Fannie loan with zero seasoning).When wine menus have 4 reds at 4 price points, most people don't get the most expensive or cheap one.

This apartment has been vacant since 3rd week in November and all applicants up to this point have had glaring red flags, and there have been very few.