I gave my realtor a map with a red line on it and said I won't buy houses outside of this area. 

Operators who leave their rosy red glasses on and underwrite like they did in 2013 will be very sorry when the market shifts and they can no longer meet expected pro forma numbers. 

Lack of communication would be a bit of a red flag for me.  

RED FLAG went up and after talking with our attorney we decided to withhold $2,600 from the seller until we can get to the bottom of the problem.

I’m hoping to have it done and on the market for rent by mid February if possible.Some of my current ideals are Stainless appliancesNew paint on the exterior to really stand out Privacy fence to separate home from ally way that gets a fair amount of walking trafficNew carpet in both bedrooms Possibly new windows as some glass is already broken and they are of original designRe do plants and red mulch with easy to maintain native plants Considering re sealing the driveway and filling in the cracksI’m sure I’m missing a few things, this is a link to the google street view sadly this is the way the home loooked in 2011 and has fallen in a bit of disrepair since.

For homeowners insurance ask if the company utilizes any kind of managed repair program which sounds great but takes a percentage off of material on your estimate,  in my experience this is a red flag and equals a insurance company that will not have your best interests in mind....

He may just be a super successful 23 year old with no friends or family, but it sounds like a lot of potential for red flags. 

Being a landlord is a business it’s not a charity you’re not the Red Cross

@Gabriela Johnson I think there are a couple red flags.

You might not not want to risk having an illiquid investment in the red on your books.But either way, as @Russell Brazil and a few others have pointed out, crowd mentality is fear when there is blood in the streets and normal people cannot pull the trigger in a market flooded with vacant repos.