It looks nice but I would add more color with artwork on the empty walls.The kitchen could use a bit more "stuff".

Screw down your art work, bold your beds to the wall and do all you can to prevent damage.  

The third component is micro managing your manager and/or trying to be too involved in the initial setup unless you are super super good at it. if your manager says we need to replace furniture, repaint the walls, add artwork, retake professional pictures, do something else, let them do it. if you don't trust them to do what they do best don't hire them, otherwise let them do it. the return on investment follows. the reviews will accumulate and will help. the superhost status will help. whatever else your professional manager does will help.I've been managing commercial and residential for 20+ years.

Pictures, artwork, and other swag came from nice thrift stores (think a little higher-end than Salvation Army/Goodwill).

My husband went back for a week by himself (well, M-F because you gotta keep those weekend dollars flowing), and he sent a picture of our game room with our artwork hung and our arcade games installed - the finishing touches on our yearlong vision for the house - and I nearly shed a happy tear I was so proud. 

I see rentals with hundreds of 5-star reviews but they don't have a single piece of artwork or any amenity that goes above and beyond four walls, a roof, and a $1 can opener they bought at Goodwill.

In terms of holding a contest - you can look at most of the previous artwork  they have done in the past to get an idea of how good they are and can also ready the comments from their customers - good, bad, or ugly. it's at least worth taking a look - especially if you already know what type of design you are looking for and just need them give a nice polish = if you have no idea what you want to do - I'm sure they have designers who have plenty of ideas - but I have never gone that route as I usually know what I want - just don't know how to graphically design it ( though i do know enough about photoshop to get myself into trouble sometimes) Lets us know how it turns out  and we would love to see your logo when its complete. 

And while you are at it, don't let those walls go to waste, original artwork will complete the transformation.

They cover furnishing down to alarm clocks and artwork - bunk beds are included etc.

Additionally I put in 2 new retaining walls, painted the entire inside common area, new carpets, added a small gym, and put up nice artwork (essentially it looks like a brand new building)My question is about cap rates......I know cap rates are based on the area and general economic conditions.