It’s a luxury here.

I would try to keep the tub, because it always add a luxurious feel.

We use luxury vinyl flooring and get much better value for the money invested. 

The mall is being rebranded as a super luxury shopping experience, which won't hurt appreciation of these condos with their proximity.

We've been very happy in our 'luxury' househack for 17 years so far. 

A quick Zillow search will show some impressive value, particularly at the luxury end of the market. 

Seems that you would need an additional living space like a TV-free "living room" (something I had in the midwest growing up, but aint nobody got space or $$$ for that in California) or a finished basement (another non-existent luxury where I live) if you want an additional living space to spread people out. 

HI Kev, we helped a lot of luxury STR investors this year utilize the accelerated deprecation tax incentive, I would actually suggest checking out the bigger pockets featured tax preparer section and sine it's likely a considerable reduction definitely not try and do it yourself..the investment in high quality reliable tax advice is essential to any investor tool kit. 

BUT, I just want to know if I downsize and buy a luxury condo, is that a good investment?

The best strategy I see for it is as a Luxury STR, I’m just not sure the market supports this.