If you own your washers and dryers you will probably make some decent money but get ready when something breaks and the tenants want it fixed right away.If you are priced lower than the local laundromat (which most are for some reason) your tenants not only have to carry all their stuff to the Laundromat but will have to spend more money and may want you to cover it.Also a Service Tech will probably charge $100 to show up plus parts. 

 Wale, thank you very much for you golden nugget I will definitely spend the right of highschool preparing as best as I can for the future!

I spend an inordinate amount of time trying to fight against the tide of YouTube gurus that encourage brand-new investors to set up an LLC before even buying their first home.

These areas will require a good amount of on the ground knowledge that you probably don't want to spend the time getting. 

If they own nothing then probably makes no sense to even spend money on attorney

I would have to guess they easily spend six figures a year on marketing.

(REPS)A real estate professional for tax purposes is someone who materially participates in real estate trades or businesses, spending more than 750 hours a year and over half of their working time on real estate activities.

I already a have installed a couple in the past and I spend about $225 on each for annual flushing and cleaning.

My recommendation is to start by truly understanding what owning your properties in an LLC will do for you before spending money on entity formation and the subsequent transactional costs.

They are also two zip codes you can get burned on really easily if you don't know the neighborhoods and don't spend the time doing your due diligence.