Now that the 5% down conventional loan program is widely available (since November last year) I generally recommend using that as opposed to FHA because FHA comes with minimum property condition standards, the self-sufficiency test, and it's less attractive to sellers.

That doesn't mean they're opposed to tenants, but it means landlords are treated fairly, in dealing with the tenants and so forth.

Refi’ing wasn’t my intention initially tbh, but I haven’t had my current primary mortgage that long (refi’d with rocket mortgage last July), so I’m not opposed if the numbers work out.I’m still shopping around, though.

In your case I would recommend you buy the $2000 machines and raise the rent. 95% of my prospective tenants would prefer a unit with the machines as opposed to the 5% who really don’t seem to mind the laundromat.

We have also had, historically, a 5%-ish difference in rent rates when renting out in December and January as opposed to other months.

They wanted to maintain it and have actually done a better job of maintaining it than we would by mowing and weed whacking every week as opposed to biweekly which we would have done.

What you are describing (i.e. expanding search area to 1-2 mile radius) sounds like "shopping for higher priced sales" as opposed to looking for recent similar sales in a similar market area.

I have two people in one unit who have told me they prefer to put ALL their clothes in one big cycle at the laundromat and simply pay $8-10 for the wash and a couple dollars for the dry so they only have to do one load and spend only an hour and 15 minutes doing it as opposed to 4-5 hours for multiple loads in my cheaper machine.

For illustration purposes, the majority of investors who post on BP will move the property that pencils as a true BRRRR to the front of the line over the better situated asset with better fundamentals merely because they receive 100% of their invested capital back as opposed to 90% (again numbers are merely to illustrate a point).

I’m in the process of buying my first turn key property as opposed to the value add ones I usually buy.