If the rent I charge on the condo covers PITI, then my CAPEX, maintenance, etc puts me in the red for at least a couple years.Account Closed The figure I gave is estimated equity after seller's fees/costs, the same units with similar upgrades are currently selling for $10k-20k more than we paid.

One said the seller could provide a deed of Sellers choosing including a quit claim deed. that is a major red flag.

However, once the water bill was in the red for (literally) 2cents from current tenant.  

I'd encourage you to come up with objective criteria so it is easier to make an objective decision.I look for applicants with income in a sweet spot - they lose points for having high income, because it is a red flag of why aren't hey looking for a better place.  

Anyone asking for money up-front should raise a red flag.Listen to the BP Podcasts, attend local REIA and if you can most likely find a mentor there for free.

And of course being a true red blooded RE flipper I went right out and bought an airplane LOL.But point is she does both and kills it...

I have a blog post on the classics of landlord lit, all should be free at the round rock library or for a song at a used bookstore around the area.

What other red flags have other investors seen that I should pay closer attention? 

I was thinking about going to join Keller Williams or possibly Red Door.

For example, a $5,000 mistake or unknown variable on an $80,000 ARV house can put you in the red.