How would I recognize you at the store, car wash, Starbucks? 

We have another rental in a better part of W. Ash

Personally we found it easiest to buy like 2 dozens sets of all the same color towels and maybe 8 sets of the same color sheets so when one wash cloth got ruined or one flat sheet got stained we could immediately just bring in a new one and the problem was solved.

If I buy a car wash, I want to see receipt and I want to see the water bill (Metaphorically speaking -I know, there more expenses then water bill...)

Currently, my wife and I own one small three bay self serve car wash and a Fourplex.

In the end it could be a wash in price, but just more time lost for you being where you are at vs where you want to be.

@Amber Saulsbury @Irina Belkofer is correct in laying the CAP rate formula, as I read in one post above where they included the financing expense which SHOULD NOT be included when calculating the CAP rate.Anyways, here in El Paso, Texas I can buy a multi family (8 unit or over) C- building with a CAP of 8% - 9%, Most investors settle for that, but my value play strategy is, I come in and rehab the units, add individual water meters and charge it back to the tenants, sign 12 months leases, raise rents, swap washing machines for coin-operated machines, you get the idea, anything that helps me reduce the expenses.

Your end-game is to wash one TK at a time into Flips (if that's your preference).

I have seen some Realtors ads a few times while waiting for my car wash....

The following is labor only:$4.50 per sq ft for flooring.Painting: $100 per nominal room size of 14' x 16'Doors: $350 per roomAcid/pressure washing front/left side of home/sidewalk: $650.Follow up question: if this is too expensive (or too low), what is the appropriate cost for these items in the Memphis area?