@Michele Fischer   Michele  that is the best representation of low end rentals that has ever been coined.. perfect  I am going to steal that if you don't mind...

I made an 'income statement' for the property and came up with the following #'s; Effective Gross Income = $29,760 ($32,400 + $600 in coin laundry less 10% vacancy allowance) Total Operating/Fixed Expenses = $13,737 ($3987 in property taxes AFTER renos and at an assumption of a new assessed value of $300k- used formula on city website to calculate this #) ($4464 for reserves and replacements (15%)) ($1786 in management fees (used conservative 6%, but I would be doing this, not another company.

What's everyone's brand of choice for reliable coin-op washers and dryers?

To coin a famous movie line by Tom Hanks, "Of course it's hard, if it was easy everyone would do it.  

He lives there and has good tenants - not low income, but not professional, either -- has coin ops.

To say I'll start in wholesaling is a flip of the coin, to make money doing that you need an invenotry of properties that can be purchased considerably under the ARV allowing rehabbers or others to make a profit or to sell off the landlords.

If the W/D was in the basement and not in the units, I'd make them coin operated to offset cost of water.Mike

Hi,When I acquired my building there was an existing lease with a 3rd party to provide a coin-operated washer/dryer.

Start calling and asking every title co in your area until one says they do.

The other side of the coin is that when you do buy something you will have it rented immediately.