One thing you are missing though is if a property manager does things right, the repair mark up will wash out.

What kind of return was he going to get on his $1500?

Since we manage many large (8,9, 10 BR) homes onsite laundry is incredibly time consuming for so many beds.

If you don’t do the 1031 I’d say it’s a wash.

If you can't commit at least 2 hours a day or 8 hours a week (in my experience) and a few hundred a month- I’m at $200/mo in marketing, lots of driving for dollars and TTPIf you know you can't commit to that - DO NOT SPEND THE MONEY.However if you are super hungry and you’re going to wake up insanely early and work on lunch or lock yourself in the laundry room to have privacy to cold call for a few hours a day -- if you can keep the promise to yourself - DO IT.

Instead use everything he said as a laundry list for you to source and underwrite your deals.They are all true at some point. 

If he did, it would be interesting to know what that amount was. He

Property has hallways and laundry as common areas. 25 outdoor parking spots and 10 garage spots.

We only have 1 washer and 1 dryer in a shared laundry room.

Address shared space, private space, quiet hours, guests, animals, laundry, refrigerator, dirty dishes in the sink, noise, odors, and more.