As an individual, it is hard to open an efficient, responsible, profitable out of state network because as an individual you do not provide that much value for an agent or a contractor to run around and cater to you.But when you are part of a group that closed on over 4 million in real estate in six months and brought in over one million in local rehab dollars and put 50+ people to work and paid the city inspection office for all the permits, inspections, and reports then people cater you to. 

I don’t have detailed financials on the laundromat as they just did the bare minimum to keep it open, and I want to go in and add value.

agree with the other comment, different markets are doing different things. also, "be greedy when others are fearful." what people might be afraid of is, lots of commercial ARMs coming up on their rate adjustments, & the new rates (compared to 5y ago when they first purchased) will kill their cashflow, so they'll sell, and if everyone is doing this at once, supply might outweigh demand, everyone has to sell for less than they planned, and everyone who hangs on to their similar properties gets to recalculate their estimated mkt value with the new going cap rates. i don't personally think this is going to cause as insane of a shift as some people do, but it's all speculative, we won't know til it happens. if you can find a deal that pencils with 30y fixed debt, do it. 

Because if they need little to no repairs, they can be sold via RE agent on MLS for retail value.

Market selection, value offering, pricing strategies and marketing all play key roles in a successful short term rental performance in todays competitive market.  

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

My fiance has a family member that is willing to sell us a house for way under its current value that she inherited from her adoptive mother, who passed away a few years ago.

Buy in a B or higher neighborhood that will hold and increase in value.

@Karl Dunlaphouse hack, live-in flip, or standard long term rental with minor cosmetics or value add

To find out whether home hacking is feasible, do a complete analysis of the local real estate market, taking into account trends, rental costs, and property values.