the tradition originally started with churches, who would typically paint their doors red as a celebration that they were finally "out of the red" after paying for their new buildings...it caught on with NY Alpha and has spread wherever possible...FL Iota's house will be opening next summer and will certainly have the Red Door!
on a related side note, in Fall '95, when I joined, 10 of the guys in my class all lived in the same dorm, and...long story short, the day after Halloween (hint, hint)...the campus woke up to find Beta Hall missing it's usual green door, as someone or someones painted it red...must've been a Halloween prank...