Police Flashing Lights?

I’m making a game and I’m adding emergency vehicles. I don’t want the rotating ones, I need the actual flashing ones. I have textures for the actual flash. All I need to know is how to make it wait for seconds enabling and disabling with a loop.

public IEnumerator flash() {
     renderer.enabled = true;
     yield return new WaitForSeconds(.5f);
     renderer.enabled = false;
     yield return new WaitForSeconds(.5f);

Something like this but with a little editing should work for flashing lights. This is basically how I did it for my red suicide bombing enemies.

This might be something you can take care of easily using the Animation Editor.

instantiate something with a lens flare then destroy it and instantiate again?

You could easily add a animation to the light no coding needed. This is a lot simpler and more efficient!