@Paul Rector I think you want to find something who has complimentary characteristics (good credit, and some extra money) and see if you can help them.

Adequate parking and proximity to public transportation stops.Current # of years tenants in place in our properties: 26 - 22 - 13 - 13 - 11 - 7 - 7 - 6 - 5 - 2 - 2 - 1/2 - 1/2 - 1/2 - 0 (vacant).Some characteristics of our longer term tenants: retiree, disability, felony in the distant past, limited English skills, bus rider, semi-truck driver with need to park the rig, section 8, low income.

As to estimating CapEx you need to look at each unit and their characteristics.

Each property type has their pros and cons, but the important thing is understanding them and determining what characteristics best suit you as an investor.

The characteristics of the parcel that I have is unique.

Any recommendations as to what sort of characteristics a beginner should typically looking for when search for a right investment property?

Seems like this area really has a lot of the characteristics I'm looking for in a rental investment neighborhood. 

You may have additional characteristics but I would recommend three at a minimum. 1) The property must generate a sustained positive cash flow.2) The property must be located in an area likely to appreciate.3) Landlord friendly laws and taxesCombined, these three requirements are not easy to fulfill.

A home that must retain its historic characteristics will probably cost more than other homes.

But must be verified by 60 day history, and must be a gift with no requirement to pay back.Reserve Requirements 3-4 Unit owner occupied properties must have 3 months PITIThree (3)- and Four (4)-Unit Property The maximum mortgage amount for the three (3) - and four (4)-unit properties is limited, so that the ratio of the monthly mortgage payment, divided by the monthly net rental income does not exceed 100%, regardless of the occupancy status.Livable Conditions The property must demonstrate the following characteristics: A continuing and sufficient supply of safe and potable water under adequate pressure and of appropriate quality for household uses.Sanitary facilities and a safe method of sewage disposal.