First you have to decide what your reason for investing is So, Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, Passive, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc.

I would try breaking that apart and including it in the applicable expense category (PM, CAPEX, Repairs, Vacancy, etc.)Overall though, I wouldn't be too excited about this property.

You wait for an inspection of your property, you wait for a re-inspection, you wait for them to decide on a price for your unit they you wait for them to call you in to sigh the contract. 

Based on the purchase contract, if, outside the 15 day inspection period, my lender denies me the money, I would forfeit my earnest money deposit (from how I read it).3.)

- let me know if I can be any help I specifically work with investors interested in multifamily apartments.

I think the best first step would be finding a company getting a part time gig to see if I like it.

What type of unit configuration is more stable for an investor in an apartment complex.

What criteria could be used or would it be better to have a non-profit select the person and pay the rent instead so it isn't directly affiliated with the apartment complex?

Make it a part of your daily ritual that it is not a choice but a way of life.I have  a goal over my lifetime to read 1,000,000 pages of material on various aspects of life. 

While in Austin I was going to get my RE sales license and focus on leases/apartment locating, but now that I am back in New Orleans I have noticed that the leasing works totally different here,  hence puts my plan out of commission.