Even completely self-serve laundromats require daily cleaning and light maintenance.As far as time costs, expect to spend time each week troubleshooting equipment issues, routine maintenance, cleaning, and handling customer issues.

I do it on the daily for buyers from all over the US. 

@Sean Gallagher - My initial reaction is that if you're thinking about a property manager to help oversee the daily operations you're probably at a point where you need to get one.

Next steps are to put down a roll of plastic to prevent moisture or wet floors. 

Moisture in a bathroom is killer.

Otherwise, the dry ground will suck the moisture out of the ground. 

Had a newbie client that bought 5 SFR rentals and called us 3-5 times daily.

But there is no black and white guidance that I could find.And, in conclusion...1st conclusion: no FICA until the child's 18th birthday.2nd conclusion: tax law is muddy (I would add two capital letters, but it's a family-friendly forum)3rd conclusion: pay your CPA, we have to deal with it daily, and it takes skill

It is virtually daily that i see purchases or considered purchases that appear to have no path to success.  

Its already too many opportunities to fail if you are in the same town, on top of it daily.