Short answer: Yes, laundromats can be profitable, but profitability depends on a few factors.

There are two main factors that you can use to track gentrification, so why can't they be used to track the reverse?

Well worth the money, plus you will have already factored that expense in to your cash-on-cash requirements to justify a purchase decision)4. 

Then compare that to what you’d net by listing it as-is—factoring in the time you save and the carrying costs you avoid by not renovating.It might seem straightforward, but once you dive into the numbers, the difference between renovating versus selling as-is can be surprising.

How do you factor that unknown future expense into the ROI?  

Although the percentage of the increase is large, the determinative factors are whether the resulting rent is so great as to shock the conscience of a reasonable person and was effected for the purpose of compelling the tenant to vacate."

Obviously, two factors are responsible for what will likely be more than doubling our money in 3 years.  1.

Your limiting factor is the amount of INCOME you can do this with and for HOW LONG you can do it. 

Yes, I use Zillow reporting as a start and look at other factors.

FHA allows the construction or renovation of an ADU on the property by refinancing into a 203k loan, but the property must remain your primary residence.This stuff is subject to change, lender specific, and subject to other factors.