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.

My long-term goal (6 years) is to manage 11 units earning a monthly cashflow of $4.4k ($52.8k/year).

We are seeking advice on how we should handle this situation.More details: The rental was not listed until several days prior to closing as our agent indicated that he didn’t want it to span too long, and it was not convenient to show the property as he had to call/text the seller each time.

So when finding deals on the MLS, my goal is to get it under contract for an investor and once the investor finishes the rehab I'll be able to list it, correct? 

I realize there are all sorts of investment types and goals out there, but the beauty of multi-family investments is in the economies of scale.  

Long term goal is rent, refi and repeat once complete but until then, it is a money pit.