When you can buy a 6-unit on Gaston Rd for 450k, yes, it's like we have a big red CLEARANCE sign on our real estate!

Investment Info:Single-family residence buy & hold investment in Red Wing.

Red flags to look out for?

That's a huge red flag for selectively screening tenants and can get you a Fair Housing Violation.

@Simon Martinez12000 miles x 54.5(mileage rate) = $6,540 deduction$6,540 / 9 properties = $726 deduction per property.I personally don't think that is red flag audit material.

There are just a lot of red flags (and frustration). 

But for a seller to just offer to remodel units prior to settlement seems like a red flag to me, or at least something to get absolute clarity on.

Here are the details...NOI 48KMortgage Payment: 3.5K x 12 = 42KLoan Interest = ~30kRental Expenses = 11kDepreciation = 32.7kGiven a cash flow a 6k a year and then minus (30k + 11k + 32.7k)... it looks to me like I would be almost 67.7k in the red the first year from a tax perspective.

Think outside the box to find out if they match their profile and if there are red flags, you will be better off to walk away than to get scammed.

But being a part time agent will be much more liklier to be in the red than in the black.