Tankless WH cost has dropped significantly, they tend to last longer and are less prone to leaks but the initial switch might require upgrading the gas line with potential higher installation price tag.

You can't charge more because you did more;  more updates/upgrades do not necessarily translate to a higher sales price. 

Eighty percent of the "upgrades" were to the guest experience, but at least Airbnb is staying ahead of their competition by doing this.   

Many municipalities are doing lots of infrastructure upgrades currently and have more planned for the future due to population growth.

But I have been upgrading and developing the properties I have.

Also, consider tax credits and incentives for energy-efficient upgrades or first-time homebuyer programs that could lower your costs and improve your return on investment.In summary, starting in California with an FHA loan and considering partnerships and LLC structures can set you up well.

I'm not sure how much this matters in terms of staying longer in my condo vs buying a new primary, but I did just a few months ago upgrade my HVAC ($12k) and am doing other value-add to it in the meantime. 

In fact have let our clients upgrade, etc. at the same cost we buy for.

By the time you want to rest on your laurels, it would be good to have your loans not only paid off, but are also ahead of your future capex, meaning all major things already upgraded.

I have 2 tickets and an upgraded room (honeymoon suite with access to private beach).