Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

I looked at the laundry mat niche and its pretty sophisticated these days with set up being 500 to 1.5 million so pretty major expense..

Heres another selling point for Buildium -- To send out 1099's to contractors/rental owners - just takes a few mouse clicks if you have the proper database built up in the software.They make it even easier to stay in compliance with the IRS -- any W9 I obtain from a vendor can be uploaded to the cloud and attached to the vendor in the software - if you are ever audited - easier than ever to maintain the documentation needed.One thing I am going to focus on for 2016 is any new vendor I use, will have to fill out/provide me with a W9 before they are paid.  

Something occurred to me today - I have spent virtually my entire working life in fields that you're going to hear all kinds of sob stories, and that if you don't have a backbone you're going to be a door mat in a hurry: public utilities, college professor, real estate rental property owner/manager.

I can guarantee you that *I* will never, ever catch a mouse with my bare hands but did inherit a crazy cat-killer tenant once-- so many stories... you're going to be way more boring at parties when your in a LP ;)

It is an extremely water dependent business, so an easy way to determine turns per day on an older mat, is to look at the water bill.

I personally like the idea of clicking the mouse in retirement and being that easy to liquidate and call it the day. 

Most people don't want to go to the laundry mat.

While there were some reports of mouse droppings on the property, I am working diligently to address this issue as quickly as possible with professional exterminators.

Lots of theory and wisdom welcome mats here.