We're also doing all bathrooms with new flooring, shower fixtures, vanities, light fixtures and toilets.

They don't give warnings. 

You could add shelves with/or a breakfast bar along the empty wall to give it completeness and more functional space and modern look and maybe add lights over the L that makes the room barrier.Since you have water running to that laundry room see if you can put a quarter bath in there along with the washer/dryer.

Just offering a friendly warning to double check the zoning.

Majority need light renovations but more recently I’ve had some kitchens and bathroom we needed done.

Any warnings? 

You’ll need to network with boots on the ground nearby, a good cleaner, maintenance person and light manager incase of urgent guest issues, this will still be cheaper than a management company. otherwise I would say look on airbnb to other listings nearby and contact one of those hosts and offer your listing for them to manage, this is still much cheaper than a a management  company and will be honestly more effective.hope this helps feel free to reach out anytime with questionsbest of luck, Mike

Oh, and a few wifi light switches so our outside lights come on automatically plus we can control lights when we're not home. 

We have a significant amount saved up currently, more than enough for light rehab and closing costs without down payments, but multiple down payments would be currently cost prohibitive.

I have warned people countless of times about this.1).