Pneumonia: This is often the first consideration due to its high prevalence and the fact that it can cause both hemoptysis (through infection and inflammation of the lung tissue) and dyspnea (due to consolidation and reduced lung function).

Chronic Obstructive Pulmonary Disease (COPD) Exacerbation: Patients with COPD can experience hemoptysis during exacerbations, especially if there is associated bronchitis or pneumonia. Dyspnea is a hallmark symptom of COPD exacerbations.
Pulmonary Embolism (PE): While PE typically presents with sudden onset dyspnea, it can also cause hemoptysis, especially if there is infarction of lung tissue. The combination of these symptoms should prompt consideration of PE.
Bronchitis: Both acute and chronic bronchitis can cause hemoptysis, and if severe, can lead to significant dyspnea, especially in patients with underlying lung disease.
Lung Cancer: Hemoptysis is a classic symptom of lung cancer, and dyspnea can occur due to tumor growth obstructing airways or due to metastatic disease affecting lung function.

Tuberculosis (TB): Although less common in some regions, TB is a critical diagnosis not to miss due to its public health implications and the need for specific treatment. It can cause both hemoptysis and dyspnea.
Pulmonary Arteriovenous Malformation (AVM): These rare anomalies can cause hemoptysis due to the abnormal connection between arteries and veins in the lung, which can rupture. Dyspnea may occur if there is significant shunting or if the AVM is large.
Goodpasture Syndrome: An autoimmune disease that can cause rapidly progressive glomerulonephritis and pulmonary hemorrhage, presenting with hemoptysis and dyspnea. It's rare but critical to diagnose early due to its aggressive nature and potential for treatment with immunosuppression.
Mitral Stenosis: Severe mitral stenosis can lead to pulmonary congestion and hemoptysis due to the increased pressure in the pulmonary veins. Dyspnea is a common symptom due to the reduced cardiac output and increased pulmonary pressures.

Wegener's Granulomatosis (Granulomatosis with Polyangiitis, GPA): A form of vasculitis that can affect the lungs and kidneys, causing symptoms such as hemoptysis and dyspnea among others.
Pulmonary Langerhans Cell Histiocytosis: A rare disease characterized by the proliferation of Langerhans cells in the lung, which can lead to cystic lung disease and symptoms including hemoptysis and dyspnea.
Pulmonary Alveolar Proteinosis: A rare condition characterized by the accumulation of surfactant-like protein and phospholipids in the alveoli, leading to respiratory failure and symptoms that can include hemoptysis and dyspnea.