You get the benefits of cashflow and ownership and if you find the right partner, you could be the money behind the machine.

Im not running a profit generating machine.  

Once you have the machine humming and the leads consistently coming in, you can cherry pick the best opportunities and flip them yourself, or hold on to them as rentals. 

Had them replace the washing machine and repair the AC and both times were smooth.

In terms of some basics to know, I'd say 1. make sure any laundromat you consider buying is in a great location with renters in the area and good visibility2. know the condition of the machines, plumbing, electrical and boiler before you buy3.

Universities champion them because they’re cash cows for business schools - how do you think they paid for that marble flooring and Starbucks vending machine?  

In addition to what was shared by others and based on the raw experience of another BPer, if the property has a coin-op laundry, find out if the machines are sold to you with the property or if there is an outside company leasing the laundry and doing business there.When we bought our 8-plex with existing tenants, one of the tenants asked to see our ID and proof that we were the new owners before she would talk to us or let us inspect in her home.

At various chain retailers, I have gotten a stereo system for 35% off, a refrigerator for 15% off, a better deal on a front loader washing machine, etc.  

It’s like a Time Machine.

.), this is a significant expense, especially if a lot of people live in the apartment and/or they have washing machines-- Try to uncover any issues with the city.