The new construction process requires a lot of red tape cutting in the beginning.

Mostly because rental properties aren't painted cherry red with flame decals.

Being in a big hurry can be a red flag if they do not have a bonafide reason.

However there are scammers and thieves out there, so learn how to recognize the red flags early, before they book your property.What I've learned is to have sparse furnishings, periodically take comprehensive photos of the inside and outside, have a place for everything and put everything back in its place between guests, keep an inventory (especially of kitchen items), expect that some items will get damaged or will disappear and plan for that when you establish your pricing, establish a security deposit. 

Bowed walls and leaning chimney are red flags too.Make sure you have a contingency for approval of the inspection report.When the inspection fails (pure guess but likely), you can reduce your offer significantly and walk if the seller is firm on the price.

I've talked to the county who is auctioning it off and she can't find any red flags but "if" one comes up it's on me.

Historically I have run in the red after depreciation so have not paid taxes.....may need to ask accountant about this one.  

Phewwww....a 4plex ANYWHERE for $55k is a huge red flag.

You want to pay special attention to board orders, high weeds/grass, and other "red flag" statuses. 

Yup I was right after looking at the particulars and past taxes for this house, it sends up way to many red flags.