I decided to invest in apartment syndications for cash flow and to take a 100% passive approach, usually only investing the minimum (50k in most cases) so I could get some additional diversification.

What kind of diversification would be good?

In addition to what you mentioned, I look at: crime rates and in what areas crime is most concentrated, % of renters vs. owners, age demographics, employment diversification, median income levels, home values rates looking for appreciation, economic activity such as development projects both commercially and residentially, rental rates, vacancy rates, landlord/tenant laws, etc.  

Having a mix is always nice and gives some diversification. 

It's a great diversification to have SFRs and owner financed properties as each has it's unique benefits.

Portfolio diversification How did you find this deal and how did you negotiate it?

A counter point about diversification.  

Plus there are programs like Army emergency relief (AER) to help a tenet pay rent when they can't make ends meet.Buying around a post gives the opportunity for qualified renters that choose to rent instead of buy due to convince instead of insufficient funds.Buying at each duty location gives geographical diversification of rental properties.

Diversification is very important to me. 

We have great diversification in more than 14 syndications, the ability to travel and we are truly passive investors.