What @Mackaylee Beach said....at least have this guy fill out an application and check his background (and charge accordingly).

I just looked at my calendar from this past summer, and there were zero check ins or check outs on Saturdays. 

Many laundromats take card payments these days, which is very helpful in verifying revenue.Look at the lease terms – long-term leases with reasonable rent increases are important for keeping costs predictable, and can also be important for securing financing.Also, check out the equipment and figure out what repairs or upgrades might be needed in the near future.

Analyzing Deals:Mainly I use the MLS to check for rentals comps or previously sold comps & potential ARV.

Just withdraw it—it’s like a checking account.The Risks (Depends Who You Ask):A lawyer says everything can go wrong.An insurance agent says the same (so they can charge more).An engineer?

However, I also have ways for them to pay with cash, card, money order, cashiers check, and personal check.

Check out https://www.biggerpockets.com/renewsblog/2013/10/1...

I check the SEC, FINRA, ratings websites for inside information on the principals in the company.

I am a beginner in this and I would like what basics questions should I check before getting into this business.

Indianapolis and surrounding areas often offer strong rental demand and reasonable property prices, so you’re definitely looking in the right place.For neighborhoods in Indianapolis, I’d suggest checking out areas like Fountain Square, Bates-Hendricks, and Irvington.