Bonus Tip: If this quadruplex is out of state, I’d highly recommend building a reliable local team (cleaners, handymen, etc.) and maybe consider hiring a co-host or VA to help with day-to-day tasks, especially if you scale up. 

Highly recommend you DM @Samuel Eddinger and buy him lunch to pick his brain!

However, some amenities consistently deliver high value because they attract more bookings, increase nightly rates, or result in better guest reviews.

The interior was made up of high efficiency HVAC systems, contemporary lighting, and electric water heaters.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Earthquake fault zones, flood plains, and high fire hazard areas are off-limits.

The guarantee of getting paid and a high hourly rate would be what would entice them to use the hourly rate structure over a commission structure.  

While I do maintain a relatively modest percentage of my assets in money market instruments, corporate debt funds, and high dividend stocks, I remain most comfortable with the investments I specialize in and know best.  

Where I have seen "open concept on the way out" is in the very high end properties.  

I paid about $1,500 for the installation of a high-quality 4-security-camera system, which can be monitored by both the tenants (and you!)