Real estate is sold in dollars and sellers want cash folding money.

You pull up the last archived lease as the template and update the dates.The REBNY leases used to be 8-1/2 x 14, six pages, folded up.

The issue with greenboard is two-fold..grout cracks over time, as does caulk and water will gradually get behind it.  

Just be sure the laundry area is CLEAN, well lit, has a large clothes folding table, and is secure.

Definitely helped out being close by from a management/communication standpoint. smart trying to do this from 3 states away raises the risk factor 10 fold.. 

@Scott Goulet the answer is two-fold.

Fold vertically and work on one at a time.

I have spent approx $700 in marketing this past year but made several fold over just from that.Hopefully this give you some insight.  

Here are my 21 tips for starting out:#1 – Learn From Others#2 – Plan to Market#3 – Know Your Type (Performing, Non Performing, Re performing, Investor Notes, Seller Financed, etc)#4 – First Refer A Deal#5 – Discover The Why Behind the Note Sale#6 – Get To ‘Know’ The Payer#7 – Verify Everything#8 – Embrace The Boring (Due Diligence Counts)#9 – Plan for The Worse#10 – Partials Are Your Friend#11 – Master The Time Value of Money#12 – Encourage Early Payoffs#13 – Originals Count (Get that original note and endorsements/allonges)#14 – Stay In Control#15 – Seek Professional Help#16 – Use Solid Servicing Procedures#17 – Understand When Laws Apply#18 – Get Self-Directed#19 – Spread The Risk#20 – Know When To Fold#21 – Be Creative If you PM me here on Bigger Pockets I can send you details on the individual tips. 

On the ground I've observed a near ten fold increase in the interest for coastal real estate in Oregon from out of state of absentee owners in just the past four years.