I’ll be out of state, which I know is a big red flag for many.Well below 1% minimum of Rent/Property ValueHoping to self-manage (Yes, another big red flag)Loss of capital gains exclusionMONTHLY SUMMARYRental Income $3,500Less ($3,440) Mortgage (2,900) HOA (390) Rent Ins (150)Less ($1,155) Property TaxTot Exp ($4,595)Rev: ( $1,095) !!

I made my decision based on the fact that a) $5800 for a 90-day program was something I couldn't afford; b) $5800 for a 90-day program seemed VERY fishy/scam-y/pyramid-y to me; c) after scouring the internet for information, reviews, etc about the program, I found literally ZERO bad or less than 5-star reviews about it which - to me - is a massive red flag; no program, product or service is perfect, and the fact that they are making themselves appear as such really gave me a bad feeling about the program.

And, if you want to really see how LPs feel in a non public environment, there’s an “LP only” forum on Left Field Investors that discussed “red flag” sponsors that investors won’t work with again. 

.- Neighborhoods to Avoid: Are there any areas that I should steer clear of due to high crime rates, low property values, or other red flags?

Real estate aside, I am passionate about rock climbing!

I was originally looking at Indian rocks beach but have extended my search to Seminole (both zoned for STR).

Don't you think that is a potential red flag?

If he can't provide a track record dating back several years, that could be a red flag. 

My advise would be if you do get a HELOC, have a rock-solid plan to pay it back in full ASAP.

Another thing that is unique to this market is that the pandemic opened up institutional investing in residential real estate by such large companies as Black Rock.