It was bought in 2004 and due to financial issues, I believe ~$197k is still owed on the mortgage.

Ditch the red rug, increase art and add dresser, bedside tables to bedrooms.

However, sometimes investing is more than just the financial return.  

Some say it increases bookings, while others mention concerns about damage and additional cleaning costs.

I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.

Diversifying geographically can also reduce risk and increase long-term returns.For example, there are several markets across the U.S. that are ideal for new investors because they offer affordable entry points, reliable cash flow, and strong economic fundamentals.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Throw in that you can dramatically increase the value of the property once you show consistent rent rolls much higher than when the space was used for LTR, and you have a big win. 

My end game is to show you a path to financial independence, whether that be at 45 yrs old or 70 yr old.  

These increases will likely slow to pace more in line with inflation.