Is this a red flag or proceed?

A major flag to look for would be up front fees.

Nothing is screaming red flags, and everything says that the future of Winston-Salem is very bright. 

If the “relative” meets your requirements and is willing to co-sign the lease that may be a different story, but still a red flag for me.

Normally I recommend someone to get a long tape measure or roller wheel, flags and cones and lay out on the ground. 

I should have seen the red flags as far as Lee is concerned, and I am really bummed that I can't get started as quickly as I had wanted.

Like I said, looking over the materials it sounds too good to be true . . . and that's often a red flag.

If the tenant wants the home and if I find them suitable (no red flags in the showing) then I ask for the application fee. 4.

so red flags.1. money up front usually 500 to 800 to suck you in.2. rate to good to be true IE 4 to 5%3. reason we can do this is you buy this NON exsistant insurance policy  ( Fraudulent from the get go)4. bad English or poor website 5. offer to show you their picture with their drivers license  ( I like that one LOL)I suspect your private lender has hit you with a few of these you already mentioned the insurance. 

If a neighbor doesn't maintain their property or has trash everywhere that's a red flag for me.You should look at the property as if you were the end buyer.