He is renting the unit and will carry a bit of debt for a couple years but once he is clear of that he will do very well for himself.Park owners want their empty spaces filled. 

Many laundromats take card payments these days, which is very helpful in verifying revenue.Look at the lease terms – long-term leases with reasonable rent increases are important for keeping costs predictable, and can also be important for securing financing.Also, check out the equipment and figure out what repairs or upgrades might be needed in the near future.

You can have multiple conventional mortgages and have a great credit score as long as you don't pay late or get too close to the maximum debt to income ratio.

I am not a debt investor, a bond investor nor am I an investor in corporate debt, private equity debt, peer to peer lending, etc.  

For us we all typically use 0% business credit cards to furnish the property which can amount to $40-$60k+ depending on how crazy you go. 

I’ve often seen this happen where initial approval is given, but debt-to-income issues arise once they discover you’re purchasing another property.

We prefer no debt (we are not from the US originally).

So he needs to be more ITM than  the 1.25:1 ratio.With that said, to answer the question-- figure out your debt or income.

Many of my customers who are traveling nurses buy condos or townhomes in Florida as vacation homes, then rent them out when they're not in town.This system has proven to be very lucrative, as it allows them to service the mortgage debt and generate a good cash flow.

I read an artcile in The Economist not too long ago that mentioned how smaller towns like Jasper can offer stable rental demand if you play your cards right...