Is this a red flag? 

Most likely in the red if you have HOA fees.

Its been on the market for 80+ days in a hot market, which is probably do to the fact that people see a red flag when they see auto body shop.I am waiting to hear back from the agent on some things that are unknown at  this point, but this is what I do know:-Residential 3 family recently renovated and fully rented. 

How to do as much maintenance yourself as practicalYou will also need to build a team with a great agent to bring you possible purchases before they get to the general market and a commercial lender you can contact who knows as many local players as possible.

Though I do check out the "Housing Wanted" section of CL and occasionally reach out to people on there, if my rental sounds like something they're looking for and I'm not seeing red flags. 

It's cleaning up slowly only due to flips in Mapleton Fall Creek, on College Ave, and new Red Line bus transit system.

They didn’t mention pricing by sq/ft which should’ve been a red flag, I think they just pulled that number out of there butts.

Chris- definitely agree with you that people get in over their heads without doing enough research on what type of mortgage they can handle or the red tape they need to be prepared for.

If not, you may be faced with the economic reality of a real estate shortage in many areas, that will cause properties in foreclosure to be sold at or very near market rate if they get to the auction block.Yes, foreclosure "deals" (preforeclosure, etc.) are still out there but there is less meat on the bone than there was in previous markets and, there are many other players working those fewer deals that are left, that have been doing it longer, and have deeper pockets.

I understand how the institutional players who are buying up SFR, they are in the long haul, and do not need to produce significant dividends to investors.