And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

As others have mentioned, DSCR loans are generally for turnkey rentals (although outdated rentals may still qualify depending on the level of deferred maintenance). 

People have brought up interesting ideas to help you get to the next level.

Step 2: Narrow down your "buy box" (are you market-indifferent, are you looking for a certain level of cash flow, etc.).Step 3: Connect with real estate agents and begin making offers!

And while seller financing is a very common practice in business acquisition, the good deals are not being done with high levels of it.Particularly with smaller deals, and especially with a business like a laundromat, there are cash buyers out there.

I always dig into the borrower though (character) - honesty, experience, skill-level, etc.

You can try reaching out to a bunch of them but you most likely will get lackluster response if you don't show some basic level of commitment on your end. 

Entry-level salary but certainly nothing to frown upon.

You've done a great job with keeping your debt low so I have no concerns about your level of discipline to use/reuse a line of credit.All the best!

What was their level of speed & competence?