6 Unit apartment complex red flags

[Ann Gillet]

I'm new to REI and am in the process of learning. While researching various areas, I came across a 6 unit apartment complex that has great numbers. It's been on the market for 75 days and is currently bank owned. Would this be a red flag? Is it common for good deals to sit for so long? Thanks!!

[Andrew Syrios]

I don't think that's necessarily a red flag, although you should be aware it's been looked over and thereby is highly unlikely to be a great deal. But apartments can take a while to sell and sometimes sellers take offers substantially below asking. 

I would be much more concerned about the area, occupancy, tenant quality and necessary repairs.