This is quite budget friendly and convenient place. The hosts are quick to respond and guide.
There are lots of restaurants around if you need foot early morning or late night.
Taipei 101 is few minutes away and there's direct bus nearby to/from Maokong, Chiang Kai Shek and Sun Yat Shen memorial, Raohe Market, Longshan temple. Everywhere else can be visited with the 104 mrt station.
Google map is your best friend in Taipei.