Qualitative research (regulatory landscape, talk to people there- agents/other hosts)  You’ll see some markets are instantly disqualified.Tools / data sources- AirDNA and Mashvisor have been valuable to me but not needed 

Everyone wants instant gratification and have bad habits. 

And when you right, you have instant equity.

Seems Rustic could foreclose on all these right now, since there is a 3 year redemption period in AZ.So if you buy a 3 or 4 years old tax lien you can foreclosure really instantly?

I always suggest updating the hardware like you mentioned, because that can help give an instant mini face-lift to a room.Regarding the appliances, when you say "black package," are you referring to black stainless steel?

Plus, IMO those smaller appliances instantly stand out as cheap/weird/wrong, as most tenants are accustomed to standard size appliances.my2c

Be ready to file for eviction the instant that the rent is late, and get rid of her. 

Make sure if you BRRR the reno is decent because being cheap on that so that you can get more instant gratification on the cash from the refi will not end so well.

I never had any intent of ripping people off and not one of those people that believe in that instant cash thing either

But a nice big instant equity % would definitely be icing on the cake, but is not a requirement for me.