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

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..

Its always good to plan ahead and review your scenario to make sure you are ready to execute your next deal when you come across one rather than just wing in it and find out you are stuck between a rock and a hard place. 

On the siding maybe do something like a desert tan with some red hue that’s a light warm and inviting design.

Sometimes a face-to-face conversation can cut through the red tape faster than any paperwork shuffle.It might feel like the city's operating without accountability, but there are folks within the system who genuinely want to help - you just have to find them.

There is also the local knowledge of a market like here in Lake Tahoe where lending can be trickier so an offer with a local lender might get chosen because they have a reputation to get a deal done vs a national lender that can have more red tape and a slower process. 

That raises a ton of red flags to me.

Just make sure to document how you arrived at the land value in case of IRS inquiries.If you’re unsure or want to avoid any red flags, consider consulting a tax professional to ensure you’re compliant and optimizing your depreciation. 

Also remember the time these returns will take to amend along with the possibility of opening up audit periods/red flags with the IRS due to amendments.Doing this yourself on turbo tax likely won't be your best bet considering all of the details.

Similarly if you feel the material pricing is marked up by too much, that's similarly a red flag.