The greatest profits are in properties that can be repositioned to a higher and better use, or appreciate the highest over time, or will throw off a TRUE cash flow of 20% per annum on total investment (cash + debt + capital investment). 

Why does this seem too good to be true? 

My hope is by end of next year he has a local small MF value add house hack (probably will cost ~$1m so it will be a challenge).Clearly I did not sugar coat the path (except I suspect demo child does not fully convey the true extreme of his behavior; the police knew our address without being told). 

Most people who make a ton on Airbnb hire out designers, put in flashy amenities, and create a true experience.

Does the same metric hold true for laundromats?

If you didn't budget your rehab correctly, and don't have access to more money, you will be stuck (this is also true if you buy with cash without any excess money).  

The units all have tri-paint jobs with ceiling paint, a nice wall color and super-white glossy trim on everything else. 

Is this true? 

That is very true!

Is NOTHING sells for a refi appraisal price  I  mean nothing that appraisal is always high.. so when folks say hey I got a refi and it appraised at this and I now have this much equity that is also not true and wishful thinking..