Keep in mind the more you write off the less money you will show as you net.If you have (2) full years and depending on how the accountant files your taxes you will have a schedule C more than likely or another schedule that shows profit and loss.

No, DIY is not the same as a virtual site visit or a study done by engineers @Dana YobstAs @V.G Jason said, you could very likely cost yourself more in time and money.

How can you save MORE money, while living there? 

Just tell them they don't make enough money but you should have known that before it was processed.  

When there is a sum of money in the bank, I’d rather buy another property than pay for fire damage, and I’m happier with the insurance coverage.  

Quote from @Timothy Newsome: Hello, looking to potentially use a hard money lender in NJ.

We recently bought a property using a HELOC and rehabed it's then refinanced and got most of our money back out.

You said "don't do it for the money," but I'm sure money calculations were part of convincing you this would be a reasonable way to spend your time and money.

What would be considered the easiest program for small hard money lenders to use to track loans and history and sending out 1098 's?

Like all businesses, laundromats have problems and require time, effort, and money.