How much to spend on furnishings?

[Melanie Sumner]

I am purchasing my first property, a 2 bdr/2 bath condo in Taos, NM, walking distance to town. It's a nice place, built in 2005 w/ vigas, fireplace, radiant heat tile floors, enclosed courtyard, but no view.  I plan to live in the condo in four years, but I want to do distance (I live in Georgia) short-term rentals until then, managing them on VRBO, etc...  I'm thinking I could probably rent it for an avg. 90.00 - 100.00 a night.  

I want to use higher-end furniture and linens because I want to use it myself a couple of times a year and eventually want to live there.  I've heard that tenants will take better care of nicer things, and take better care of things if they pay a higher rent.  Do agree?  

At the same time, I face a lot of costs with this purchase, and I don't want to overspend on furnishing.  If I lived in the area, I would have time to shop flea markets and find bargains, but I will only have a few days to set it up.  I have a few pieces I can bring, but I still need mattresses, linens, a sleeper couch and chair, kitchenware, a rug, end tables, and lamps.  What is a reasonable amount of money to invest?