In addition to growing our businesses we love helping others achieve their real estate goals. 

My main goal is to generate monthly income through buying and holding multi family units.

(See RCW 59.18.070)If the tenant is on month to month or does not have a lease, you could give a 20 day (at least 20 days) written notice (prior to the end of the month or point that payment is made) that the tenancy will be terminated.

Rent income total $2325PITI + water/garbage/sewer about $1800.No PMNet income $525 per month.If i account for maintenance and repairs + capex, i probably make only $100/ a month.My goal is to bring the lower rent gradually up to market.

Park owned homes, i personally would probably shoot for a year on the front end but its going to depend on your plans and goals if you own any of the homes.   

I'm doing some work to the rental unit with the goal of charging close to/at market rate which is somewhat higher.  

What information do I need to find out prior to buying if I can build condos in this area by demolishing old building?

I would have a lender lined up prior to purchase who would be willing to cash out refi on the property.

I say go for it as long as it will align with your long term goals. 

I always tell them my goals so they can assist me better.