So, splurging on a pool table, hot tub, and a telescope to enjoy the views would yield significant returns.I'd love to hear your thoughts!

In fact many homes with too high of an occupancy are leaving money on the table.  

I put together a table of these options along with pros/cons to determine the best course of action.  

If you can brand yourself as someone with a strong track record of getting VA buyers to the closing table efficiently, realtors will take notice and vouch for you and your clients as offers are submitted and this will show tremendous value to borrower clients.  

For all your non-recourse lender is concerned, you are providing the 20% plus closing costs to the table (your skin in the game as far as the non-recourse lender is concerned).Trick to becoming a successful investor:  DON'T OVERTHINK, JUST DO IT! 

Gutted the kitchen and dining/living room area.

:I've learned, the good ones don't seem to ever make it to the open market (loopnet, crexi, etc)In my experience on all sides of the table I can confirm this is a very true axiom, that opportunities first get filtered through a Brokers internal buyer/sellers, and then through internal agents networks, and after that, hit the open market, most often. 

I'm imagining something more like add a wall, turn a bedroom into a kitchen-living on one side and a formal dining room into a bedroom on the other side, maybe add a half bath in each unit.

This works, but is VERY manual and I'd love to bring some automation to the table.

I highly recommend considering the points Nathan has brought to the table while you are making your decision.