Crown Heights, Greenpoint, Fort Greene, Red Hook, and you should look at SUNNYSIDE (I think It's Queens but that's on the up and up esp with the new huge WeWork coming)

Looks decent... except for the renter.I would do your due diligence on the renter during your inspection period, get a lease in place, and perhaps have the tenant put a deposit in escrow that would be released to you at closing.If the tenant does not qualify, or there are big red flags.

If the owner refuses to allow you to do any sort of inspection you should know that's a major red flag.

If you've only got 200/mo cashflow, and you need a new furnace after owning for 6 mos, then you'll be in the red, but fine if you were cashflowing 900/mo

But that would have to play out down the road.I know we have time on our side now, that the property is sitting about 200+ days from original listing, which throws up red flags in itself, but the owner has known that the sale was going to arise prior to listing it.

.), my expected rental income would not be enough to generate a positive cash flow (but rather potentially ~$200 in the red).It is also worth mentioning that the value of this property has risen substantially in the short time I've owned it.  

Which is a red glad to me, I wouldn't want to buy into an association that has management that would allow this. 

I'd put this in bold type at the top of the partner agreement and again right above where they sign.Since you have experience flipping you could use their prime credit to get better loans for that purpose.

Join the BOLD program.

If there are any red flags you move on.