But this is not rocket science, and there are not "a lot of rules".

These could be increased with modern furnishings and leased on a MTR basis or combination of usages. 

David OrrTax Modern

Often it's just paint and appliances, modernize the look is all it often takes. 

It's not rocket science.

So far I’ve just been updating the aesthetics-modernizing so I can charge accordingly once March hits…trying not to discount too much in this low season cause I don’t want the wrong guests (partiers).I’m interested in hearing from ya’ll too though! 

These enhancements included a range of updates and repairs to modernize the home, improve functionality, and enhance aesthetic appeal, making it competitive in the local real estate market.Holding Costs: Throughout the renovation and sale process, holding costs amounted to $5,000.

And, while there are some practical issues with these: i.e. boiler typically means landlord pays heat and it is hard to get boilers serviced in my market, there are risks of many of these items in modern construction.  

Its rich history, combined with modern amenities, seems to strike a balance.

This is not rocket science, it's a really easy concept...