You seem cautious and aware enough that you'll know when to draw the line if something brings you to it.

I would probably do the same as you, since i've had friends that had 1 or more of those traits, but weren't toxic relationships as a whole. In the sense that the good very clearly overweighed the bad.

Nothing wrong with giving someone a chance

But also nothing wrong with ditching the friendship if that's on your mind. Im assuming these red flags you mentioned are things that you experienced with abusive relationships before? Regardless of whether it would lead to to that though, these are things that you don't like. It's up to you if you think the good outweighs the bad. What do you like about your new friend so far?