When buying a laundromat, it’s crucial to evaluate the financials carefully.

So, if you don't know how to build financial models, there are some available that are pretty good online (adventures in CRE is a great resource).  

@Derick JenningsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Historically, full service management on the coast has been costly but in recent months management rates have come down and quality has improved.

Being a responsible person has nothing to do with the financial calculation for rate of return or cash flow. 

.- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.

The question is mostly a personal financial planning question and it depends on your preference and what balance of risk and access you'd like and would be comfortable with.