What is the age and condition of of the property? 

(age 70-80)All that equity in your home keeps the majority of the risk on you, money is illiquid, don’t get the same tax benefits, etc. 

Where the cutoff is depends on age of heat pump and thermostat being used.

Plus some credibility with local real estate types as someone who has actually done something.I did this when I was about your age.

The house was built in 1954 and really is in great condition for the age (it was a little old lady house).  

Is this a good deal considering it's age etc?

Seeing retirees in these areas are great...but not working age groups of people.

The aged white oak floors will be natural finished with a few coats of poly. 

I own 2 Laundromats and its my main income.Yes I do most fo the repiars myself and I would never hire a full time maintenance tech unless I had a large (4,000-5,000 ft2 store or a number of stores.Normal returns are 25% to 30%.It's as passive as Real Estate but if you think of each washer and dryer as a door and your tenants can move in to the next one if theirs isnt working.Maintenance can vary based on machines and age. 

@Ming Lim We aim to establish and maintain a reserve of between $300 & $600 per unit depending on the building and the age of its major systems and components.