@David Zheng  I buy 3/2 SFR homes, single story only, square footage is 1100-1600 square feet.  

House is a multi-family, two bedroom on main floor, studio up top, 1200 square feet total - previously rented for $700 main, $350 for studio.

Also I still need to work to build up capital for a down payment.A few initial questions I have are:1) What red flags do you, as experienced investors see with this strategy?

Your per square foot can range between $50-$95 per square depending on quality of workmanship and relevant conditions of units in the immediate area.Let me know if you have any questions.Regards,Joe Scorese

That was a red flag, but he said he said that so I would not have to drive 40 minutes to the title company.

@Menalik Archer if you can't verify the track record of a turnkey operator that's a red flag in itself.

Someone that had to move immediately is a red flag in my screening process.

What are the red flags and other considerations I should be making.The agent told us that if the package was appraised, it would appraise around $500K so there is equity built into this deal.Ramsey

In Monopoly we jump from 4 green houses to one red hotel.

It is a 1 bedroom 500 square feet all hardwood floor unit.