They will try to run 2 kitchens and that can mean clogged drains in your wet bar kitchen.Be sure there is personal recourse when you need to sue them for $40k in repairs above the deposit.

The rental had ratty furniture, a record player prominently featured in the marketing but it had no speakers, missing basics items in the kitchen, lots of drunks in the concrete hallways that reverberated right into the bedroom at 2am, a strong odor of urine outside, and more.We have super hosts in this forum that have hundreds of 5-star reviews and are masters of the craft, but I look at their rentals and see they don't have any artwork on the walls, decor is basic, they do nothing to make the guest feel welcome, etc. 

I have personally stayed in one of these places where the main house is separated, and only the basement space which has a walkout entrance, its own kitchen, and two bathrooms would be rented out an Airbnb.

Denver has a lot of older properties with value-add potential—small upgrades like fresh paint, updated kitchens, or even just better landscaping can make a big difference in forcing appreciation.

I can add value to RE by adding a bathroom, renovating the kitchen, ADU, etc.

Added a bathroom and remodeled existing.Opened kitchen to diningNew roof, driveway, windows and mechanicalsRefreshed landscaping, hardwood floors and paintWhat was the outcome?

"Ceiling fell in" turned out to just be drywall of the kitchen ceiling.

Quote from @Dean Malka: 1) what's your range for remodeling a kitchen completely (granit, backsplash, tiles, etc)?

Provide appliances like a washer/dryer that other landlords may not.

If one or more units are vacant, the remaining units often don’t provide enough cash flow to cover expenses, making it harder to meet operating costs.Maintenance costs: A fourplex comes with four times the appliances, plumbing, HVAC systems, and other components to maintain, leading to significantly higher repair and maintenance expenses than single-family homes.If you want to see the detailed calculation, read this BP blog - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Resale value: Multi-family properties have a limited buyer pool—mainly investors—who base their offers on CAP rates.