The potential is tremendous and the risk is relatively low, but few seem to latch on the work to get them setup.Cheers!

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Laundromats are open to the public, and if the local neighborhood has a high crime rate and transient population, those can be potentially expensive problems that can affect your business.

Also, setting up an S-Corp could potentially save you on self-employment taxes, but I’d suggest chatting with a CPA to weigh the pros and cons based on your income. 

Correct - Track all your income and expenses.The bookkeeping will determine whether you are profitable or not.it will also be good to compare from year to year your income / expenses to see what expenses you can potentially try to limit.I.E.

The agent puts a lot of time into finding and showing you potential properties.

The reality is stocks are NOT "investing", there savings accounts with super charged interest earning potential, that comes with the risk of going to 0.  

Rising values of the properties bailed us out of a potentially disappointing investment.  

Good balance of affordability and rental potential.

Giving potential partners an option.