Also I converted to real estate professional status and absorbed the net loss carry forwards I had as well as washing out my wife's salary when she was working her W2 at the time.Zero sum meaning, that if I did the Cost Seg is was going to cost $9k and save me $40k on the $50k worst case tax hit. 

In the long run, the higher interests and fees could be a wash if you find the right investment properties to buy.  

My thought to overcome the laundry issue is to provide "free" laundry up to 65 pounds per month for wash/dry fold. 

For example, if we can increase rent (from LTR to MTR) by $1K/month, we spend ~$7K to furnish and stock.6) We pay for a professional laundry service to wash & fold our bedding and towels and couch protectors - every month.

(guessing he pockets the rest), when I asked what his NOI was he said 900k approx.

Put in new LVP throughout, bought a new hot tub, Washed and stained the deck.

I grew up exposed to real estate (from my grandfather who owned laundry mats & apartment buildings and my dad who owned a car wash and his own rental units) and I’ve been interested ever since.

What was he offering for the money?

Financially, it may be a wash, depending on the valuation from an appraisal, so the purpose would mostly be to acquire a second home in the area after the refinance.  

When I was young and single (about 100 years ago) I was working a seasonal job in Alaska and it seemed "no one" was washing dishes after use.