Not so sure about this area, but generally it's good to invest at red states, most of their market experience good growth and are landlord friendly.

The more I'm thinking about this the more red flags I'm thinking of.

Think of Sears, Toys"R"Us, Best Buy, CVS, Dollar Stores (600 Family Dollar Stores are set to close; 370 Family Dollar and 30 Dollar Tree), Walmart closed 11 in 2024 so far, Applebee's, Red Lobster, Stop & Shop, Rite Aid, Lehman Brothers (a 158 yr run), Bear Stearns etc.

If so, that's  a red flag.

What to Stay Away From: Are there any red flags or pitfalls that I should be mindful of when selecting properties to flip? 

Less red tape & quicker closings but typically the rates and lender fees are higher.

Without knowing more details about the specifics of the project being proposed as it relates to your property, it's hard to say if there are any obvious big red flags that could negatively impact your property's future value.That being said, I would try to find out as much information as possible about the new apartment building's design and layout - the two big things I would try to ascertain would be the location of the garage entrances/exits, as well as the location of any outdoor amenity spaces (pools, terraces, dog runs, etc).  

Way too many Red Flags and lack of transparency.

In this day and age, not having a online Prescence and clearly documented track record is just a huge red flag

even suburban submarkets are red hot right now in miami like leisure city, homestead, florida city you can still get infill lots one of the last few places in miami dade county right now. rezoning and variances you can do even better. if you are limited on capital ground up construction and land might be something to consider in miami in these submarkets.