Also frame construction is pretty standard in that area which will increase your insurance premiums over CBS.

If you're living in one of the units you're likely able to insure the property on a standard homeowners policy with some added endorsements. 

They’ve secured low rates and rapid equity increases due to the last few years of Fed/gov intervention.   

Increasing your skill and competitiveness can be achieved by pursuing further certifications or taking courses in real estate finance, investment analysis, or property management.

The house's electrical system seems to be functioning properly, but given its age, we're wondering whether it would be beneficial to replace it entirely( I.e update the whole electrical system) My question is this: Would installing a new electrical system increase the value of the house and make it more appealing to potential buyers?

Also with rent control, the MF have caps on increases.  

Completely updated the interior of the home and made it to market standard.

-Taking 10% reserve for vacancy, PM, and Capex-5% for repairs -All other numbers are standard values based on my area.

Little Rock has experienced steady population growth over the years, which can create increased demand for housing.

The other clear takeaway is - by increasing the amount of guests that you're able to accommodate in your Airbnb, you're likely to increase the amount you can charge on a nightly basis.