An example of that is tenant must pay for additional electric over flat fee / flat limit since now there is 2 occupants in the home instead of originally one.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

Second, I'd connect with some local hosts in your area also in addition to Airdna.

I'm a big fan of value-add opportunities, whether it's buying something currently undervalued & fixing it up to my standards, or buying something that has additional income opportunities that have yet to be incorporated. 

Accessory Dwelling Units (ADUs) are an increasingly popular way to generate additional rental income on an existing property.

Additionally, when a problem arises, those problems get addressed and all parties involved are updated.Being a property manager is a hands-on / high touch vertical.

On the other hand, STR is a lot of work and with 3 kids you have to be realistic about how much time it will take to run and manage a 1 room hotel.

Additionally, I’d appreciate advice on pricing.

My wife and I also have kids and we are not willing to house hack either, it’s not for everyone.

We rehabbed the entire property and added an additional bedroom to each of the units.