In all honesty, with your attitude, you would be better off putting the money on red/black playing roulette.

My yellow postcard says in red handwritten on the front: Aloha John Doe,I want to buy your property at 123 Main Street.

If your color is nuts, like black or red or hot pink, that's a different story.

No appraisal, no bank fees, no waiting for approval and no red tape.5) With regards to area, I would refer back to the idea of buying the property for the tenants you want.

What are the buying signs and red flags you’d identify?

His inspection reports are great but I like him showing me in person any red flags he might find.As you get experienced its not necessary to visit the properties but when starting out I highly recommend you take the time

A transfer of a property, purchased with a personal loan, into an LLC can trigger the Due on Sale Clause; however, a transfer of a property into a Land Trust does not trigger the same red flags because the Land Trust is considered an estate planning tool.

@Scott Voiers if a bank won't finance them that's a giant red flag.

But anyone selling a "rental property" sends up red flags. 

I used the Bold and Italics formatting to answer the questions about how I intend to make money from this.