All it will likely do is confuse them and raise unnecessary red flags.

To me this is not a big concern because it is my plan to repipe after closing, then I will be able to show proof of the repipe and get the exclusion lifted.However, not being able to get insurance with FULL coverage due to the piping, I believe it would be a red flag for the lender and may be reason for a denial. 

When we get into the inside I see hairline cracks in the ceiling and on a few walls, big red flag.

Late rent is a red flag.

I would know that the tenant ignored many opportunities to work with me before it came to a red tag and they chose not to. 

And along with that, the tenants tend to think of the house as their house and paint the walls red and purple, whatever, remove flooring, remove kitchen cabinet doors, paint them, etc. 

I have two AirBNB listings, and frequently run into red tape.

His attorney also reviewed and no red flags arose. 

I use red as key #1 and go around in order after that.

I understand that complex long term financial engagements with families is a huge red flag.