This is a big red flag to me because obviously someone in the investing game would have trustworthy contacts to do those types of things for them they wouldn't just ask some stranger on a forum.

They have a couple buildings that look good but what red flags should I look for that the broker might not be giving a clear picture on?

Syndicators who are blindfolded or put on rosy red shades "making it work on paper" to make a quick $$

Someone who is interested but doesn't want to pay is pretty much waiving a red flag.

New red flags for me with thisOriginally posted by @Jonathan M Peters:the renter is starting a property management company  If he is starting a property management company, why is he renting? 

A very transparent process, as if during that time there is a possible red flag and they still go ahead knowingly that's on them.Now while I don't charge an application fee for my time to do the above, others with more properties might attribute a cost for their time, which I also believe is fine.

Many deals are not financable (won't appraise without red flags) which means you can't buy them unless you have cashAn observation is that the HOA and association dues are killers with regards to your cash flow. 

Closing was done last night but the title company raised a red flag this morning saying the previous owner did not sign deed over and  as a result still have ownership interest in the house.

Him being the cheapest also raises lots of red flags.

You need to have a great house cleaning crew that can get you place sparkling clean between guests.Then is comes down to you managing the VRBO and/or Air site and proving great communication with your future and current guest.There is a lot more details that can be found here on BP.