This would be our first rental and I think it could be a good opportunity long-term, but it feels like there’s some red flags here.

THE AGENT MAY NOT UNDERSTAND ALL THAT TALK, PLUS IT'S NONE OF THEIR BUSINESS WHAT YOUR GOING TO DO, AS LONG AS HE RECEIVES 3% FROM SELLER,  THE $2,000 FROM YOU AS WELL AS HIS CLIENT SELLING OFF HIS PROPERTY AT THE PRICE CURRENT LISTED PRICE (OR WHATEVER YOU NEGOTIATE) ....

I don't have a long list.

For added context, the property is a SFH that I will be renting to a long-term tenant. 

There is an amazing difference in knowledge, skill, and experience between long term agents with whom real estate is their career (life) and the agent whose in real estate because he’s a career SALESMAN selling the hottest thing; you know, the guy who’ll be selling oil well drilling participations next year, and advertising services the year after. 

Cap Ex was relatively high last year due to a water line leak wiped out a good portion of the profits the Cap Ex that year was around 48%of rent since rent was lower.

I have a family member whose taxes have increased 100% in the last 4 years.

I also have an investment strategy in place (core/core+ investments, minimal to no rehab, aiming for 8%-12% IRR over a long holding period).

I have been curious about this method for a long time and have only seen it in theory and would love to hear from someone who has actually done it. 

I have had to ask for two contract extensions so far using them, and now trying to switch lenders last minute.