If I had a specialty, it would be long term bookings.
Long term bookings are less income per day. However I appreciate the stability and steady income. I don't have to rip a room apart daily. I have detailed descriptions and ask the questions that are important to me. I believe that people present themselves for what they are, and if I don't think it will fit, I err on the side of turning them down.
A lot.
If things look good, I get to know guests and their quirks and requirements. I like to surprise them with things that I didn't promise. And if it doesn't go so well - hey! it's only one booking, and less likely to wreak havoc on my service numbers.
I rent rooms in my house, and I live here. I share a kitchen and a bath. If that sounds creepy, it's not for you. I'm an extravert, and like the company.
As a landlord in my previous life, I am very familiar with the laws in my province, and if need be, eviction proceedings. As such, I am careful to position myself as an innkeeper, not a landlord.
If I rented a unit with an unshared kitchen and bath, the laws might be construed as different, and governed by an Act intended to protect the tenant (and the landlord, to some degree). Don't forget that this "tenant" is also bound by obligations under the Act, too. This may be more than either party bargained for.
If you are unsure, it's worth investing a few dollars with a reputable real estate lawyer, and inserting the defining conditions into your rules.
Cheers!