I have one property in an area going down hill and this is common. 

Also, townhomes are a great bridge property, it's a common trend that those in townhomes are aspiring for home ownership meaning credit sensitive and with that right mindset. 

Learning from agents commonly working with investors is your next opportunity to find a mentor.To be honest, I wouldn't try to find a mentor from random investors on the internet.

I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).

Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything? 

Most commonly, laundromats are sold at a 3-5x multiple of SDE.

., longer-term, amortized, require escrow, commonly modified b/c of prepayments, etc.)? 

Very commonly the resident pays a portion of the rent so your rent increase will affect their budget and their lives. 

I'm not sure why this caused such a reaction, but I can say the language above is completely unnecessary and out of order on this forum.   

This is a common problem for other places besides California.Most of my clients are out-of-state investors-California being one of the most common places for investors I work with.I would say, in general, it is very similar to in-state investing in that your investment is as good as the team you use.