Pain in the *** if you ask me.

I've never had coin operated laundry in any property I own, but I do know, from friends who have, that it can a pain to service/keep operating (particularly if your tenants bring their friends over to use it)--so it may be that the revenue is not worth the cost of maintaining it. 

Buying homes at or over current market rates will not provide you significant income, if any (maybe appreciation down the road but certainly not income if that's what you're seeking).If your area's homes are selling at or over asking price maybe consider looking for distressed properties off the MLS? 

The issuers will design out fee centers and the crowd will eventually seek the highest yield.  

I'm a real estate newbie and would like to see what the community thinks about what would be my first step. I've ready the books, listened to the podcasts and read through the forum. I think I know where I want to beg...

If you could still qualify for the home purchase today then you could probably refinance it if you had to.I have to agree with William Morgan that it may be best to seek other ways to protect your assets if you only have a handful of rentals.  

Seek out a local Business Attorney for help.

Some people don't mind the judicial foreclosure route but, to me, it's a pain in the keyster.  

As your starting out, seek out local REI meetings and attend a few.

Short term pain but don't let the deal fall apart over a small budgeting error.