Therefore they can sit back and accept say $5000/month on a multi whereas me buying it, now I need full rent amount which is closer to $6800/month.

I think it’s hard to have enough cash flow to hire a full time, quality manager who actually allows you to be completely hands off when you only own one laundromat.

When they eventually move out, I plan to do a full renovation to bring the unit up to high-quality standards and maximize its rental potential.I’m happy to connect if you ever want to chat.

Again, depends on how you're planning to use the property (exclusively investment, blended occupancy/rental, or full-time occupancy) - if investment only an LLC would be the move. 

Most sellers still offer full or nearly full compensation to buyer agents, all comes down to the offer at time of offer.

they said around 90% of market value.I tried to get them to understand that this property needs a LOT of work, almost a full gut, some holes in walls (small) old carpet needs to be ripped up, i mean like the works on this thing, you can prob get away with touching up the kitchen since its real hardwood and the bathrooms as well but this prop needs at least 80k.Found out owner actually owes 140k on property, and zillow is zestimating it to be 127k.

Everything resolved as good as could be expected w/o court (albeit full renovation was needed.)

Full disclosure, I have not purchased in San Diego since Dec 2021 (shortly before rates rose).  

Awesome jobIf you are interested in some local Chicago Meetups here is the list BP has:  https://www.biggerpockets.com/forums/521-real-estate-events-...I have a FULL LIST OF ALL THE CHICAGO MEETUPS that I will send you! 

For a lot of investors it takes 5-10 years to transition from W2 to full time RE investor and if you don't have a passion for being a landlord, you may find yourself hating it.