That $20,000 was money invested into updates on the property. 

The seller pays you via seller concessions and you use that money to pay your agent  4.

Even the funding alone is easier since you now have a cash flowing property that can help you fund your seed money faster. 

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

With Laundromats the the machines are your money maker (I know duh, but hang with me). 

Use your own money?

My remodel strategy is to use some of my own sweat equity and running subs to save enough money to upgrade the flooring, kitchen and baths slightly beyond the peers. 

They are worth the money for a good hot tub that is mentioned all the time in reviews and doesn't have a ton of issues.

It’s a great way to add value to a property without putting a ton of money upfront, and it can set you up for financial success in the long run.Has anyone else done a similar renovation project or used a gift of equity in their deals?

We are considering stepping in and trying to buy the place, but looking for some guidance on STR and what kind of money this place can bring in.