If your lender is only working with a "list of qualified contractors" thats against the 203k guidelines and a huge red flag. 

In Portland for example, you cannot do STR for greater than 90 days per calendar year if you do not owner occupy the property (unless you have a property with commercial zoning).

-Have enough room in the back of the lot to add a new duplex (zoned appropriately, etc).

Adjusting some zoning restrictions and streamlining permitting processes to encourage more private development would have a quicker impact.

What are some red flags ?

Any red flags? 

I also know the zoning/permits better than the appraiser on some of them because if they passed initial evaluation I looked up the zoning and permits. 

The investments going into the community are strong and a large section of it is in an opportunity zone which has some added tax benefits.

It reminds me of the Gozone Benefits not sure Michael if you were in practice then.. but that was the post katrina And in the zone if you bought new construction for investment purpose or your own use.

Green is good yellow needs to be looked at and Red is there is something wrong.. you simply walk in and pick up a copy of it on the counter..