I had been looking at different kind of apartments for a while now but i'm not too familiar with how the bedroom & bathroom factors will attract certain type of tenants.What kind of apartment tenants can i expect from a "2/1", "2/2", "3/2", "4/2"?

If you're going to self-manage, the drive-ability factor is even more important. 

Get the home inspectoion, factor in the repairs costs and see if you numbers still work.

Even factoring in HOA and property taxes, you got some pretty good cash flow and lots of potential for appreciation because the condos in the lower end price ranges become great entry level homes for first time home buyers.Likewise, if you look at duplexes, triplexes and four-plexes, it's gonna be hard to find deals under $100k a door.  

I think it would show BEAUTIFULLY - empty.

You need to factor in physical vacancies, rent lost to lease (you raise rents but can't raise on people already there), bad debt (not everyone pays), and concessions (free month on move in!)

When choosing a car do you make the primary decision factor by which is cheapest?

Check your market to see how demand factors in.

I had friends that restored $17,000 Covington and Latonia houses that they'll never get their money back but they'll have a lifetime in a beautiful house.

So when you are looking at the comps, look at how long the days on market are and make sure to factor in the additional holding costs if applicable.