Buy (new or used) typical residential Wash/Dry and equip them with coin boxes, cards, or app payment devices.

We currently have 2 larger apartment buildings, some 4 plexes and single family homes.What equipment would you recommend getting? 

Hey All (Fyi i'm copying the wording of another post because both are situations are almost identical)Not sure if this is the place to ask some questions about the market in New Jersey, if its not, please direct me, thanks!

My mom a hair salon with 3 apartments over the salon my father a landscaping business and also has 3 units over his garage where he keeps his equipment.

They never did leak test it because they lacked the equipment at that time.

Builders risk – Covers a property during the construction process.Once the building is complete, you will need to move it to a Vacant building policy or standard Property policy.Most commercial insurance packages for builders will have property coverage that takes this vacancy issue into account.Work comp – Covers your employees, OR any uninsured subcontractors & volunteers.GL – Covers Claims against you for Property damage (Your new building falls over and damages neighbors’ car) and Bodily Injury (slip and fall on the property)Auto – Covers Claims against you for Property damage and bodily injury from your commercial auto.Auto – Hired & Nonowned coverage – protects your business against claims form your employees and subcontractors vehicles that are working on behalf of your business.Most employees and subcontractors are typically driving their personal vehicle that is insured personally.Inland Marine – Covers equipment, hand tools while in transit and on job sites.It can also cover building materials to and from the job site (Cabinets get damaged while being driven to job site)

Expenses: assuming zero negotiation buy @ 138,000 including closing, 80% financed 20% down PITI + Condo Fees, cable, sewer, trash, water: ~$1,050k/mo @ 5.75% APR 30yr fixedDown payment: $27,600Rehab budget: $27.5k Furniture budget: $10KMonthly: Utilities: $100 power, $90 internet, $100 maintenance, $700 cleaning fees (7x times per month average)Total Expenses: $65,100 cash + $2,040/monthIncome: Identical comp (same condo model, different building) on AirBNB & VRBO $14.5K @ 64% occupancy over 161 days (AKA ~102 days rented @ $141/ADR) and also rented an unknown amount of additional time on furnished finder @ 1,600/month. https://www.airbnb.com/rooms/6...Full time gross income: ~233 days @ 141 ADR: $32,853/yr or $2,737/moth completely ignoring furnished finder revenue. -7% in taxes inside ADR yields results in $30,553/yr or $2,546/monthNOI: ~$506 month or ~6,072 year. 

Purchase price of 3x the yearly revenue is for something that needs some work. 5x the yearly revenue would need to be about perfect with new equipment.without knowing anything, I’d guess the equipment is old and there will be some box expenses soon.

On the second property is a locked enclosure (wooden fencing) to house our lawn equipment.

Around here it is for replacement of equipment not a total gut job.