Multi Family in Potential profitable area...or not?

[Edward Viglione]

Hi everyone! My name is Eddie and I'm a newbie who is closing in on my first rental property! I'm currently looking into single and multi family homes and my question has to do with a multi family. First, It's across the street from a 5-10 acre area of condemned houses which are on the water (ocean front area). And, they are condemned because they are slated for demo in the next year or two for a new outdoor high end strip mall. The house in question is older but its fairly modern inside, so a little work is needed which is what I want. But with the property being across from a retail spot. Does this seem to be potential money maker? Or does this seem to be a potential lemon? I'm hoping someone may have had a similar experience because I can't find much info on a situation like this. Thanks!