The host: Paolo is an A+ host. He was easy to communicate with, punctual, and was very accommodating with our requests. He is very knowledgeable about the area and was happy to give us information.
The apartment: The apartment is lovely. It's better than the photos, comfortable and clean. One thing to note is that when the sofa bed is out, there is only a narrow passage through to the bathroom. It wasn't a problem for us, but I mention it because if you're unsteady on your feet, it might prove troublesome for you. There's a bedroom, which was ideal for our situation (two parents and a child). The bedroom is on the opposite side of the apartment from the bathroom, so nighttime trips to the bathroom mean passing by the sofa bed. The AC cools really well; we only needed it for an hour or so during our entire stay because the weather was fantastic, but in hotter months that AC would be such an asset. The building is secure and very quiet, and parking garage is private and secure. The wifi is so good! It was great to be able to do our internet searches in the apartment before we went out to sight-see with our slow cell phone internet.
The location: Across the street is a supermarket, which was very convenient. The apartment is not right in the center of the sights to see (a plus so you can easily avoid driving into the ZTL), but there are busses that stop nearby that go directly to the major sites downtown. We were in Bologna mostly for the car museums (Ferrari and Lamborghini), and we found the location fantastic for getting to those places that are out of town.
All in all, if we were to repeat this trip, we'd definitely stay in Paolo's place again.