If you do less than that you are doing worse than a third of other rentals in the area and should consider to tweak your house, may be provide more amenities to attract more travelers and get more cash out of your investment.Strongly recommend to obtain Airbnb market report.

Another "tweak" to this approach is look at the financial numbers on your current home and if it makes financial sense , refinance it to a 15-Year Note, and you can get it paid off quicker, which will increase your abilities to leverage your income for future purchases, (10-15 years downstream) or you can make additional Payments to accomplish much the same goal. 

I tweak these figures annual based on percent.  

About 5% or less of the time they may have to go back to tweak something but everything from a leak to a backup to a main sewer line has been pretty routine. 

Since this might not exist, you have to start making tweaks to the comps: renovated 4 family in same area but all 2/1s.  

I tell my foreman at the first day what needs to be done on a particular project, then I let HIM tell me how its going to go down, make suggestions or tweaks if need be (now he knows how to think like me, so nowadays it's more of a nod, than tweaks), then simply approve from there.

Each scenario is different and it will require some tweaks.+1 on the insurance.

I agree with everyone else, it's great to use but definitely tweak some of the wording to your standards.

Our rental agreement was boilerplate by East Bay Rental Housing Association that Daniel Bornstein then tweaked to make more owner-friendly. 

I would add one more tweak.