Also, most importantly you need to find out if your house is zoned for 3 units, and what the building inspector will require... a quick trip to city hall would let you know if this is possible or not.

Its not a bad location since its by the water, but its in a flood zone obviously.

A vacant property without a SFH on it is usually not developed for lack of demand or location issues (flood zone or inability to put a structure on the land). 

There is heavy development going on around the Urban Core of Kansas City, and many areas that were once "war zones" are now VERY VERY close to being the next hot spots.I'm a part time investor in the area, but fulltime involved in the general development of Kansas City as I own a construction company that concentrates on new construction multi-use/multi-family developments.I enjoy beer, coffee, properties and BBQ

Yes that is true, this is all contingent on zoning approval.But if it is.

The property is located in an AE flood zone and I am aware that it will require flood insurance.

The price they go into pending "at," is not disclosed however all you'll see is their asking price and a red mark say "pending."

I didn't want to start a post just asking for CPA or attorney recommendations but rather what are some red flags or bad experiences you might have had with these professionals along the way that I should look out for as I am vetting candidates?  

1) I would guess commercial, however your bank would tell you if they would let you "slide", getting the 4 plex in your name would open you up to getting a 30 year loan rather then the business 5 or 10 year balloon loans.2) To change retail to residential, you need to talk to your local zoning officer, and probably building inspector.

But here is my question, you say it's a single family home, are you sure that zoning allows for two family home there, i would check that first. just because it can be, does not mean you have the legal right to do it.