Hi,
This beautiful machine was painted in the markings of an Albatros D.
V flown by Offz. Stv. Adolf Schreder of Jasta 17. He was KIA on 17 March 1918.
The red coloring of the 'blitz' marking remains speculative, IMHO. However, it's what I've speculated about this marking before. The black and white tail was the unit marking of Jasta 17 for a time. Great looking aircraft!!