I’m in the red hot market of CT and just went under contract today for a duplex near a college.

The town of Camp Nelson is in Tulare County which is a “red” county in a deep blue state that is favorable towards landlord and STR rights.

Avoid the war zones.

One question, can I build on industy zoned property?

I bought with a cash-flow on day-1 and could tolerate two vacancies before creating red-ink, so it's crazy to be penny-wise and vacancy foolish.I know there are those here on BP that harp on hobby vs professional business operations, but there's more to the bottom line than just GSI - - consider the opportunity losses created by vacancies.

I will appreciate all the input I can get especially a reasonable person to do the logistics including zoning etc.

Any red flags?

These buildings are zoned like hotels and have all the requirements you need to rent and make money accordingly. 

Risks;  zoning / code enforcement for running a rooming house, more then the county limits on un-related adults in a rental. 

I like that area to invest, however it is near a flood zone, something to keep in the back of your head, but not a deal breaker.