The assumption that I make good money is wrong. 

Not all speakers are necessarily paid speakers, i.e. at the Money Show I don't believe Steve Forbes pays to speak (I would guess they are paying him to speak), but generally speaking, if you hear an investment sponsor speak to any group of people, I would come in with the assumption that they paid the event organizer a fee to talk to you.  

Declaring that I did something unethical, with intent, was an poor assumption. 

By doing so, you'll be able to use accurate assumptions when underwriting deals with strong levels of confidence!

My assumption is laundromat clients tend to be on the lower income range.  

@Erich OertelRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Or where the borrower sells the property to a third party with the assumption of the note - at an increase in interest rate.  

Before I give my answer I'm making the following assumptions- Your credit is decent, you have stabe income and make decent money; your debt to income ratio is relatively low. 

Keep in mind you'll never have all the information and there will always be unknowns and assumptions.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?