That's a transient demographic.

Demographic and lifestyle changes, more than economic factors, are driving down the ownership rate over the long term, Zell said yesterday at the Milken Institute Global Conference in Beverly Hills, California.

When you add in the fact that there are 22.5M 18-34 year olds living at home with their parents, and the fact that the median price of both homes and condos (in the US) are north of $200k meaning that buyers looking for conventional financing have to come up with $40k just for the down payment, apartments have powerful demographic and financial drivers behind them.

Only reason I mentioned demographics was to ensure there was no selection bias. 

In Aurora, the demographic for this type of renter is generally older single men (40's to 60's).

My mother in law is a bit older and it would be great to have someone with similar demographics that would be compatible with her lifestyle.

It in no way tells me it's a good deal...it just means it's possible it's a good deal (depends on how many years are left on the lease, how many times they've renewed, if the apartments above have a value-add opportunity, what's going on in that area economically and demographically etc). 

When you see favorable demographic and economic changes you that there will physical expansions. 

3) That depends on your NOI minus debt service which depends on a variety of factors such as market fundamentals, job growth, demographics, what can they pay for rent based on their income and much more.I, for one, don't invest in areas with a population less than 250K and we're about to raise that number soon.

Being born and raised in Indy I may be a little biased but the demographics and jobs back it up.