Pros:
Amazing location for seeing Rome. Close to termini, you are close to everything via metro. The building itself has a working elevator, and is located close to 2 grocery stores and plenty of food.
The studio itself is well appointed. The bathroom works, for the most part, the bed is hard, but functional. The couch and TV serve their purpose. You will get through your vacation comfortably enough here.
Cons:
The internet is quite slow. The speed is capped quite low (around 5Mb/s) so you can not Netflix and work. I was barely able to stream music and have a conference call. The internet also went out multiple times during my stay which forced me to restart the router.
The bedding, in general, is very cheap. The pillows, towels and sheets are all remarkably bad, even in comparison to other cheap hotels.
The hot water issue is real. It's an old building, there isn't much to do about it. Turn on the hot water for ten minutes before you shower.