If you pay off 20k in student loans, sure you will have less cash to work with, but your buying power may go up by an extra 100k or more... and this way you may be able to leverage loans further (so you can put less of a down payment and therefore use less of your savings also!) 

I also thought about potentially placing about 8 small storage units to give the tenants a place to rent for an extra fee for their extra stuff.Do "dog park" areas or private fenced in areas for tenants vs common open yard space see an increase in rents typically? 

Took their time , I pay extra for safety related issues. 

@Cindy GonzalezDefinitely keep the extra cash beyond the minimum down payment.

The difference in price is anywhere between 15-25K and as a new guy its tough to know if the extra money will translate into renters!

The value was added to this home by converting what was already a "third" garage into an extra bedroom/bathroom and re-building the old attached garage and back driveway.

We wanted extra income, plus we invested $20,000 for necessary repairs and we could not afford to sell the property until we made that money back.

I can't see charging extra for water for laundry, this should be a pretty minor cost anyways in the scheme of things. 

Yeah, the high property costs makes it hard to cash flow @Cody Mau but if you go the small MFH route or house hack by creating extra rooms in a big house and rent out or even ADU it's possible or get really close.

Now, the extra income might be useful if your strategy is to make high profits purely based on operating cash flow, which is fine.