The one that we live in has a kitchenette, but not a stove because then it would have to be zoned multifamily.

LIHTC eligible, opportunity zone, STR eligible, property management in the area….Pretty decent list. didn't know where to start so I figured I would ask the more seasoned of the bunch.

I would first suggest getting a real estate lawyer in that area.Is there zoning in that municipality?

what are some other major red flag questions you might ask?

@Ryan Rubel There are certainly quite a few restrictions in those two areas, in Carlsbad you have to be within the coastal Zone...I have a multifamily in Carlsbad Village a block outside of the coastal zone so I'm unable to operate it as an STR unfortunately.

Detroit's got the advantage with the Red Wings since the Barons left in 1978, so I guess there's that.

Health and safety inspections don't seem to care much about zoning or permitting issues.

Political risks and plenty others in 25 years of selling real estate in Dallas area I have never sold one in the flood zone or probably anywhere near a flood zone.   

At a minimum,  you should understand what the current zoning is and what restrictions there are.As the post above mentioned reaching out or going in person to speak with the planning and zoning department will be very helpful. 

They mentioned how Dom helped them narrow down neighborhoods for a multi-family purchase and even flagged potential zoning issues before they made an offer.