Positive: Good location. Near the subway and walking distance to Palermo shopping. The apartment size was perfect for 1 person, maybe 2. Good value. And clean! In Nov 2012 I paid $53/night.

Cons: At night it was a little loud as the bedroom window is not very thick and it's right by a courtyard. You can hear neighbors talking on the phone and watching TV until very late at night. That being said, the price is reasonable for the neighborhood so I felt that compensated for the noise.
The kitchen is lacking in cooking utensils (knives etc) and pots and pans. I stayed in an apartment in part to save money on restaurants but I found it difficult to prepare some of the groceries I bought. Additionally, it was a nice surprise to open the fridge and find it stocked with waters, chocolates, beers, etc but on closer inspection a price list has the prices of everything so if you use it you must pay for it. Even the map they left on the desk was sealed with a price marked on it. I know this was meant to be a convenience but it just came across as "cheap".
Lastly I found the door lock to be a bit difficult to navigate. At one point I was locked in the hallway for over 30 minutes b/c I just couldn't get it open. After some practice I could get it opened no problem but I do think this lock could be fixed.