Also, the previous landlord used several different colors of ink which leads me to believe he made that modification last second to benefit his friend. 

If there is a benefit to this regarding asset protection or anything else.

If you factor in closing costs it might be 3 years to start showing your benefits of a refi

Now you get to enjoy reaping the benefits.

If you price the coin-op lower than comparable laundromats around town your tenants will appreciate the benefit (but likely not abuse it).  

See video I did on subject http://youtu.be/zjxxBBkIxhI it's geared more to the benefits of buyer, but for you if they don't pay you just evict.

If you are considering of living in the multi, you will achieve ultimate financial benefit of having a decreased living exposure, this should be the goal.

Meanwhile, they can be expensive and burdensome in proportion to their benefits, especially for a small investor ... $800/yr state franchise tax here in the People's Republic of California, and it doesn't matter if the LLC or properties are out of state, CA still wants this fee if you live there. 

Could you please explain the FHA loan and the benefits of it concerning starting invested with a small amount of capital (20k)?

Find a mortgage banker that will give you credit using the lease agreements.You should be able to do a HELOC on your primary residence to get to 90% LTV.VA loans will let you go to 100% LTV as long as the loan is within the county limit and you have benefit available to cover the loan.