The unit seems to be in a great place... right near colleges, public transportation, and shopping.

I even got a 5 dollar bill from the US government with a request to fill out a transportation survey.

I work as a manufacturing engineer and my wife is a civil engineer working for the GA Dept. of Transportation.

It's a highly desirable area due to freeway access, public transportation access, restaurants and the expansion of the mall.

But without knowing what kind of returns are typical for your area, I don't think anyone can say which of those is the best deal.Based on my admittedly limited knowledge of the continent, I would say that your lowest risk would be the urbanized building - quite new, accessible to different types of populations, not constrained by lack of transportation, no vacancies. 

My wife and I are looking for somewhere to rent that's 'affordable' while providing us commutes on average an hour or less; my commute is to/from Tewksbury and hers to/from downtown Boston (near capitol building) via public transportation.

It appears to me that Chicago's cost of living is kind of in the middle, or maybe closer to cost to live in California which is more than I was expecting.With that said, I think I will just rent for now and continue real estate investing in Texas which is more affordable for me.Any suggestions on where the lowest cost to rent ( decent area ) might be that's near public transportation?

Buy local products as the transportation cost will kill you nor will you need enough to make it work it. 

If it is residential, check the school system ratings, whether there is public transportation or restaurants/bars/shops nearby, all of the typical things that you would consider if you were the tenant or end-purchaser.

I have been looking to buy a Multi family in JC with easy access to NY transportation for the last year and half but no luck as I have been overbid .