About 6 years ago I had gone through all the red tape and was ready to close on a house with a 203k loan.....and then the seller backed out of the contract.

So in theory, one or two repairs (which always happen and need planned for financially) would maybe have you in the red on funds.

This way, when the first loan pops, the second lender's underwriting dept won't throw up a red flag.Good luck.

Or are there other red flags?

I joke that I want to play monopoly. 4 red houses for 1 green hotel. 

They can even be inline with traditional bank or agency pricing and with much less red tape (no tax returns required and don't look at debt to income). 

Name is Carlos Ramos (Red Apple RE) and his number is 910-551-2342 I have mentioned to him that someone from BP may contact him.

., you've received some great advice already, but I would add that if you're seeing "a lot of inventory" in Chicago and southern Chicago, that would give me pause, and is likely a red flag.

Tuesday will be the Tenth day and the tenant told me his son will only be in the home for a few days because the Red Cross will assist  them in finding a new home.

On the other hand, shootings, murder, and other violent crimes on the property are red flags . 3.