I'm trying to make a decision between the two and I wonder if it simply depends on which rep employee you are assigned to in each business, and their experience. 

It took new construction costs from $800-2500 down to $325 / SF and instead of 2 years it can be done in 8-12 months (design, permits, fabrication, shipping, and erection) depending on how much homeowners customized the standard plans. 

If I had to pay my cleaners on top of the loss income it would impact even more as my cleaning fees range from $100 to $400 depending on the property.  

Why set a 600 credit score if it's negotiable?

It makes sense to run the numbers, but will depend on the appraisal. 

What's the lowest credit score you will allow?

Does anyone know a lender willing to lend on 40k with a day out of foreclousre up to 50%LTV with a low 500 credit score?

There are so many strategies you can deploy depending on your goals going forward. 

Short answer: Yes, laundromats can be profitable, but profitability depends on a few factors.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.