After that the increases slow dramatically, so capturing the exit sooner results in a higher IRR. 

Dropping below the 600 range increases risk dramatically.

Better clientele will be attracted to the neighborhood, you can raise your rents, and the building increases in value dramatically.

Sellers like to keep it below the line to boost NOI, but I factor it in when estimating my IRR.

I think once the bigger franchise fee is paid in full your income goes up dramatically.... 55k in real estate probably won't make you anywhere near what you could with a business that produces cash flow DAILY

However, after the lender's appraisal, it was discovered that the house was almost 1,000 sq ft larger than what was recorded, boosting the ARV to $415K.  

I would think ABNB would boost occupancy sans fees?

The return on investment might be lower than being leveraged, but you can sleep at night, and if you do NOT need the cash flow now, putting it into more properties certainly can boost that return.

For other properties/tenants, we usually don't raise for the first 2 years, unless there's a dramatic increase in taxes or insurance, both of which have happened.

It does boost the value at resale of the home as the trees and view in the winter is better than looking at a house.