A local couple who’se combined income is 300K and who sponsored the family’s immigration to US is willing to be co-signers for the family of 5.I am thinking that Party2 will put more miles on the house and may be harder to deal with in case of any complaints or eviction, though I am not an experienced landlord so I am not sure what are the factors to evaluate or what all can go wrong?

He is currently a travel PT that makes $37k pre-taxed but after including all his stipends, his annual earnings are  closer to $95k-$97k.

The cash flow is only 5k/month (not including cap ex, maintenance and vacancies), but it’s enough to pay for my kids in college.

Was it included as a credit/debit on the HUD so it should have reduced your cash to close? 

No attempts to "pull one over" on anyone here--in fact this deal and partnership idea were brought to me by the other would-be investors (including the deal finder), because they're interested in making it possible for my wife and I to move closer to them (currently living in different states).

This includes structural components of the building.

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

When managing multiple applications, it’s crucial to ensure your process is both fair and compliant with local, state, and federal housing laws, including the Fair Housing Act.A best practice to avoid any perception of bias or confusion is to process and work on one application at a time.

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.