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.

The challenging thing to find is someone that can identify true issues vs throwing up a bunch of red flags.

Example-  There are some parts of Humboldt Park that show up as "Red" high crime in Trulia, with other sections that are all moderate or low crime.  

We noticed some possible red flags with foundation and yard grading. 

They are in their 80s and just want to be done after closing, which I can appreciate, but at the same time its a red flag and won't negoatiate.

Now THERE are the red flags:Asking for payment up frontvia "untraceable" method.Move on and find something else.

-Is it pretty easy to close this way or is it a bunch of red tape?

increasingly moving to the sidelines as they are not finding properties/deals which meet their financial model hurdles.The Housing Market is Waving A Red Flag (Bloomberg)