Is the surrounding area being improved and would one reasonably expect this neighborhood to perhaps upgrade itself into a B/C within the next 24 months?

So far it looks like that's the only thing I would need to improve.

Renting it out 2+ times a year versus 1 was also a major consideration.

For example can it use the equity to make improvements or purchase other properties?

The part that you're missing is to build/rebuild your reserves and improve your credit.

Do you have a plan to improve your credit score?

Cats like to play with mice until they've killed them, and then unless they are starving just leave it as is (given the choice a cat would eat a live animal versus a dead one any day).

Growing markets and areas tends to have lower cap rates, same with properties with upside by rent increase of by improvements.

When trying to initially analyze small multifamily properties (2 to 4 units) listed on the MLS in different markets, can one reach out directly to the seller's agent to get basic rent roll, expenses, and recent CAPEX improvement information to do an initial analysis of the numbers and asking price?

I am very familiar with construction and run crews and do about 98% commercial TI(tenant improvement) work in the city high rises.