And this low demand could be a couple of factors, either a rural location with low population density or the area incomes are not high enough in order to prevent a rent burdened scenario. 

This includes flooring, painting, bathroom upgrades new light fixtures, usually there’s about $800 in electrical costs factored in here and all new cabinet hardware.

Mainly the "self sufficiency test". 

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

I'm fine with doing some minor fixes and improvements to a property: Adding overhead lighting/fans, better flooring, maybe redoing a main bathroom.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

Those are some factors that will determine your returns.

@John Underwood what would you say was the key factor is making your LTR cashflow so much? 

Curb appeal for higher-end properties will be much more important, especially when it comes to marketing - most ads and main listing photos feature the front of the property.In this case, I would consult with a professional - i.e. landscape designer or stager.