And one can optimize one's exit strategies to maximize both cash-flow and appreciation for now or later.

Danny Rusteen's "Optimize Your BnB" which tells you everything you need to know about posting an incredible Airbnb listingOptimize YOUR Bnb: The Definitive Guide to Ranking #1 in Airbnb Search https://www.amazon.com/dp/0999...Good luck!

My approach could be sub optimal at which point I can make the required changes.

Read "optimize your airbnb".

I only ask because you didn't mention Vrbo.My properties are vacation rentals and Vrbo does way way better than Airbnb.Do you have employees or do you optimize with software to run by yourself? 

A few years ago I would have said to buy a second property - with interest rates around 3-4% and appreciation roaring above 10% yearly buying more real estate almost always we more profitable than optimizing the real estate you already owned.

As for the property itself, I'm thinking that a fourplex with a 3/2 + garage setup would be optimal, as it would attract families who would stay for a long time.

Hey Joe Bertolino I welcome the negative view point, sometimes I need people to bring me down from my high flying cloud of optimism!

What is optimal for some reasons might be suboptimal for other reasons.

How well it is setup after the purchase vs what others are doing in the area will help get your nightly rate.If you just look at the downtime and not look to optimize the uptime, you will never buy anything.