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.

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).

Hi Mike - This can all be found on a website called Radius+ (RadiusPlus.com)It’s a great resource for evaluating markets and all the supporting demographic data.

@Alex SilangIMO you shouldn't get too caught up on the stats and demographics but rather focus on the team you establish on the ground.These guys will either make or brake your investments.

If this was a deal or a nice Multi there would not be a seller looking to bail and finance it.the Multi sector is red hot for quality assets as has been posted.I suspect this is a semi ghetto slumlord situation with a ton of deferred maintenance and really tough tenant demographic

I will tell you that the properties on Highland Park a number of years ago would sell around 300-250k, but they dropped like a rock because the neighborhood demographics shifted the wrong way.

Businesses and amenities, colleges/unis, attractions, institutions (places where tenants might work or play) and lastly demographics, are the type of ppl who reside there, people you want as tenants?

I think as @Bryan Otteson mentioned Geographically/demographically different properties count as separate income streams. if you have 20 SFH in an area, and a 20 Unit Apartment Complex in the same area, they are different streams because they are different demographically. 

If you bring other investors on board (sell them turnkey, or just raise money) you can actually acquire enough houses on one block to change the entire demographic of that block in just a couple years.