If they do not have references they may be new so tread lightly, and if they refuse to provide any references, this could mean they burn bridges on each deal and is a red flag.

Listing agent says tenants have 800 credit score, but I think this is a red flag!

For whatever it's worth, we had 2 toilets of the same company & model (American Standard, don't remember the model) crack within 1 year of each other at our office.

But, if you were my client here in Texas then I would recommend doing a Personal lines Dwelling Fire (landlord Policy) with $500k in Personal Liability and then have either ASI (American Strategic) or personalumbrella.com write an Umbrella for the extra $1,000,000 in coverage. 

@Kaylee WalterbachInflation is a hidden tax on all Americans.

You offered that number, but he had to go talk to his "partners" IE spam his property for a much higher price and see who bites before finalizing with you.HUGE RED FLAG.

I am currently employed as a salaried financial advisor at a large company, but like many others in the corporate world, I am increasingly attracted to the idea of leaving the cubicle lifestyle, getting into the world of real estate, and achieving the American Dream, which to me entails traveling the world while I generate passive income from my rental properties.  

The fact that they required it, makes them seem like an amateur operation (at best).You implied that they were using your own credit history to procure the loan rather than that of the sponsor...which is a huge red flag if true.  

I'd strongly recommend taking a look at not only at redoing the HVAC, but also improving the insulation (including new windows/doors).If I were a tenant, it would be a large red flag if my utility bills were so high, and I knew I could go elsewhere and pay significantly less.So, take a look at all of this, run your numbers, and see if this property is still worth pursuing.

It also means there are no red flags in the paperwork.