Go with another 15-year mortgage and you'll definitely be in the red.

@Kyler Lee:Pros:A-class property should command top rentsVery low CapEx and maintenance, at least in the beginning.Building right can lower operating costs.Cons:Nearly impossible to make the numbers work due to the high cost of land and laborTons of red tape with P&ZNeed to work with a very experienced GC, which eats profitsUtility hook-ups can make the costs prohibitive for a rentalDifficulty getting financing if you (or a partner) doesn't have direct, relevant experienceNo cash flow for the entire construction period requires larger up-front reservesThere's a reason only really see SFH or large MFR being built in most places.

Or is this a red flag that I should maybe look elsewhere for a realtor..

That BS, combined with no mention of cost, are all the red flags I need.

D neighborhoods to me are war zones.

So, in the name of full transparency, I am a complete novice to real estate development and have learned a massive amount about starting a business, real estate in general and a whole lot more about how cities/counties and government works in the world of zoning and planning.Over the last two years, I've gained some significant traction with several jurisdictions in terms of a tiny house community development and the triumphant return of the "missing middle".

What is the state of the law now regarding multifamily zoned properties. 

However, even then, they have enough red tape and limitations to push people towards non qm, portfolio, commercial, etc. 

I've been told by the county that the property is zoned for a 2 family, so we are in good shape there, but it will need to be reviewed by the "code" department and would need to be legally converted from an ADU to a duplex in order to be able to rent out both units. 

Note: I'm not saying I would cut corners, do shoddy work or skip having work done by professionals, I am simply hoping to avoid government expense and red tape.