We recently renovated a house that had been red tagged by the City.

Any red flags I need to look for?

The market is red hot and inventory is at an all-time low.

For a particular system, based on number of items, type of distress, and condition, you will get a red, yellow, or green, or in more sophisticated software, like all different shades of these colors.  

It might not be the setup that I would choose given the option, but I also don't view it as an immediate red flag.

put it all on red! 

I do not know if I am just getting older (Im gen x) and more jaded or if it is a red flag, but I hate it when I am looking to hire someone or have hired and they in a convo about said work tell me that they are "helping me out."

Lastly, the style of homes we are prosing to build are a very modern contemporary design when almost all of the product that is selling in these red-hot areas are more of a Cabin/farmhouse-type of aesthetic. 

Any push back is a red flag that you need a new PM.

I see red flags all over this, and personally I would just walk away.