New construction is up, a couple luxury neighborhoods (500k+) and a couple new mid sized apartment complexes (1000+ f/ 1 bedroom).

That said, I'd install a middle-grade plank vinyl--now called luxury vinyl plank (LVP) and make sure it is "waterproof". 

Indeed, unless you're in the luxury segment, renters won't give that much of a dime and in any case won't pay a huge premium because your condo is beautiful.

Any more than this, and I feel that I am paying for their luxury lifestyle before getting returns delivered. 

@Anthony Bertolino If you actually read the article you linked to past the headline you will see that there was tulip speculation and the market did crash, and there were people who treated it as an investment rather than a luxury good. 

If you think you have average intelligence and a general hard working person, for non luxury STRs (competing with 3 star or below hotels in the area for average people who simply need a bed and a kitchen) I would use 60% occupancy rate to start in the beginning and then 80% after stabilization.

For that extra psychological safety of handling a that multi-M upscale luxury property transaction maybe worth it, but that's not your market. 

Originally posted by @Michelle Winberry:@J Scott Kim's analogy was about accessing an Experienced Mentor, if you get that free, awesome, if you don't have that luxury then an investor does what is appropriate, get one and pay for it....Just to clarify, in the business world, mentors are typically unpaid -- they are people you have a personal relationship with and who help you because they have a vested interest in your success, not in a monetary reward. 

Any other similar lodging...that pretty much covers STRs.Section 3 is pretty clear as well.

It is in North Park, developing fairly quickly but nothing I would call 'luxury'.