Building is fully occupied.Here are the numbers:6 Unit Building Asking Price: $300k(All 6 units are 2BR 1BA)Total monthly rent (Assuming full occupancy): $4720Average monthly income from owned coin laundry:$75Yearly income: $57,540 - 5% vacancy($2,877)= $54,663Total income after vacancy: $54,663Expenses (Yearly):Property Tax: $15,000 (Cook County)Insurance: $2,000Water: $2,100Gas (Currently landlord pays for baseboard heating, water heater and gas stoves.

What you are contemplating doing is no more thought out than flipping a coin.

I was introduced to the idea of real estate by my best friend, who shared his ideas with me and I coined him insane.

I get to see it from both sides of the coin as a lender and user of hard money.

AllanStart with title co in HI- see linkhttps://search.yahoo.com/yhs/search?

Clayton Co. in Atlanta.. more specifically Jonesboro and Riverdale area are experiencing a fire sale as we speak.

I make $60-75 per month on a coin op washer and dryer set.

I would be looking at what I think is coined house hacking.. that's buying a small multi and living in one unit. use your FHA loan to get in with 3.5% down.

Currently there is one set of coin op laundry on first floor for the entire building. 

I can tell you that I personally have spent a fair bit of coin, exponentially more than you're considering, and I don't regret it one bit.