If you can't wait to change for some reason, get it all lined up with a good handy man that can do the work fast/efficient to be convenient for the the tenants vs. trying to do it yourself. 

Assess the convenience of any potential investment property by considering typical walks to class, libraries, or—if applicable to your town—a downtown area (think shops, restaurants, or bars).Don’t expect tenants to sign long-term leases.Considering that the majority of renters will be students, tenant turnover will be high—undergraduates especially tend to change housing year to year, meaning renters who are willing to sign a lease over one year will be few and far-between.Instead, encourage lease “pass-downs”.One main concern in real estate investing is vacancies—a valid concern, especially in a college town, where the rental off-season between semesters will deplete the prospective rental pool.

It seems like Airbnb will only work for larger homes (big groups that pay extra for the convenience) and unique experiences.  

Tenantelects to accept the property in its current condition and/or they are waiving their opportunity to inspect, at their own choosing and for their own convenience.

I think it really boils down to financials and management convenience.

The "deal" of a turnkey in rental is the buyer paying for the efforts of the seller to renovate and palce a tenant for you.The buyer basically trades money/price for convenience/time.

With the rental demand only going up, especially in metro areas, people will be willing to rent rooms out for the convenience of not having to drive an hour in to work to live in a more affordable. 

Does each landlord decide independently depending on convenience or cash flow, or are you supposed to follow what everyone else does in your market?

The laundry mat isn't a convenient walk.

Tenant leases do include clauses about appliances being a convenience to them and that owners are not responsible for spoiled food if the freezer/refrigerator breaks or damaged clothing from the washer and dryer.