Question for the accountants, attorneys, and due diligence professionals!

Hi all! I'm beginning the due diligence process for two businesses (my first two LOIs - woohoo!



For those of you who do due diligence frequently, what are some common red flags that you see pop up during due diligence? Put another way, what are some common problems with businesses that due diligence uncovers that would cause you to advise a buyer not to acquire the business?



If it helps narrow down your thought process, both of these businesses are PR firms.



Thanks in advance for your input!