Its proximity to major attractions, businesses, and vibrant city life ensured strong demand from both tourists and professionals.

I might be a little biased since I've lived here my whole life.

To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

I want to slow my life down a bit and enjoy the fruits of my labors (I had cancer a few years ago and I acknowledge my time to enjoy life is finite).It occurred to me that I should just cash-out refinance my properties that are fully stabilized and that have significant equity, but that can also easily support the new debt incurred. 

You can’t deduct the full cost in the year you make the improvement, but you would depreciate it over the useful life of the improvement (usually over a period specific to the type of asset, like 5, 7, or 15 years, or over 27.5 years for residential property improvements).

The “no closets” comment makes me nervous, as I have been told numerous times by appraisers that a space is only a bedroom if it has a closet and a means of egress.  

Enjoy that life.  

I've done this twice in Reno, NV and it's changed my life.

Is it as simple as the guest or someone has altered the total nights stay?

Renting for all my independent life now, I've noticed rentals I've found were on certain platforms being advertised, like craigslist, apartments.com, Facebook marketplace, and landlords posting to their personal social media accounts.However, I can't imagine these avenues being the only advertising methods, when you have something like vacancy to fill.