I'd like to explore card operated laundry to provide that as an option for tenants, to offset the cost of running the washer and dryer while I pay for utilities. 

We thought about doing a cash out refinance which would give us roughly 40,000 after closing costs.

Also, I know that by law real estate agents have to disclose if things on a property are unpermitted to allow the potential buyers a chance to back out of the purchase if it's too costly & the real estate agent who sold my friend this property didn't say anything about any of the 3 out buildings that are on the property.

This of course can prove to be a costly process!

So, acquiring the property for a $2,100 cost with potential earnings of $2,900 is acceptable in your evaluation, provided there is sufficient financial backing to cushion any potential setbacks.Thank you, Frank! 

From a cost perspective imo it's most cost efficient to find somebody with a lot of evection experience in your area.You might try Stelnick Law in Valencia . 

All expenses, income, depreciation and any other deductions or costs apply to the partnership.  

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The challenge for present day investors is with elevated mortgage rates and record high housing prices, the carrying costs and incentive to invest now can be restrictive. 

You also won’t have to worry about any fees or closing costs.