No appraisal, no bank fees, no waiting for approval and no red tape.5) With regards to area, I would refer back to the idea of buying the property for the tenants you want.

What are the buying signs and red flags you’d identify?

His inspection reports are great but I like him showing me in person any red flags he might find.As you get experienced its not necessary to visit the properties but when starting out I highly recommend you take the time

A transfer of a property, purchased with a personal loan, into an LLC can trigger the Due on Sale Clause; however, a transfer of a property into a Land Trust does not trigger the same red flags because the Land Trust is considered an estate planning tool.

@Scott Voiers if a bank won't finance them that's a giant red flag.

But anyone selling a "rental property" sends up red flags. 

I've had a hard time getting around the red tape in Bridgeport and their building dept.

Since it's my first foreclosure I'm not sure if delayed closings are the norm or if it's a red flag.

If it's run well you should see silver locks for those that are rented, green for vacant, & red for over-locked (the latter typically having two locks). 

@Nick Murray the fact that the property has been on the market for 250+ days is probably a red flag that it has issues, maybe it needs a lot of work, or is in a bad location.