Remove emotions from your investing decisions and think very rationally.

I'm thinking about buying a laundry mat, but have no idea where to start. 

First, all first flips take 2-3x as long as you think and cost 2-3x as much as you think.

@Brenda FreemanI think seller finance can make sense when you can get an at or above market price; you don't need the proceeds; you want the monthly income; and delaying the proceeds will make sense from a tax perspective.If you are saying there's an existing mortgage you would have to pay off yourself, then I don't think that makes any sense - why would you want to invest your own cash to make this work?

I’m thinking about switching to MTR/LTR with furniture included.

Some things popup of course and former tenants hide things, I think your checkout inspection was lacking. 

@Harshit Tewari You are wise to be concerned about the tenants damaging the property, but what specific background check documents do you think will save you from this issue?

I think it comes down to if you have an opportunity to role it into another opportunity. 1500 a month is 18000 per year.

The overarching strategy to "think like an investor" is to put as little of your own money into each investment deal in order to maximize your cash on cash returns.

Given your situation, I think the best thing to do is 1) work on improving your credit and 2) look to house hack, preferably a duplex or fourplex where you live one unit and rent out the others.