If a lender is not adhering to this common safeguards then that would be my first red signal .

Do agree on the red flags part.

Having had similar experiences in the past, I will add the glaring "red flag" that is visible to me.

I’m in the red hot market of CT and just went under contract today for a duplex near a college.

Any red flags?

I bought with a cash-flow on day-1 and could tolerate two vacancies before creating red-ink, so it's crazy to be penny-wise and vacancy foolish.I know there are those here on BP that harp on hobby vs professional business operations, but there's more to the bottom line than just GSI - - consider the opportunity losses created by vacancies.

So if someone bought it at the tax sale and then didn't want it and didn't pay the tax on it, that is a big red flag that they may have found something wrong with the property and decided to let it go.I would do some research on what you bought.

But there is no visible building on Google Maps, and Xome.com states 0 square feet for the structure.Big red flag: I got it for 16%, the maximum interest rate in an interest rate bid down state.

I definitely need to stop this in it's tracks so the smell doesn't TOTALLY infuse the place@Bjorn Ahlblad  I guffawed when I red your reply! 

Red flags all over!