So, I stopped by the property to see the unit... it was dirty, damaged, and still had the furniture in it that the tenant left.

I'm also going to do it furnished, since I have extra furniture I'm moving from my current house this Friday. 

I would say 30k would be a good amount.You could spend alot more or substantial less.You can save some money by buying quality used furniture off Craigslist or FB marketplace. 

Here are my thoughts:- MTR and STR would require furniture so I do need to pick a lane (LTR or MTR/STR).- We currently have STR and LTR in our portfolio so I'd like to try MTR.- We could furnish it and go for STR/MTR simultaneously, but we get occupancy near end of October, which isn't the best time for STR.

Depending on the amount of furniture you're trying to offload a consignment shop may be more hassle than it's worth.

But for resourceful, hard-working folks who do Not have a lot of capital to invest, rental arbitrage can be a great way to add value to rental properties with cosmetic improvements, furniture and great photos.

Evictions/move-outs that regularly included half a tenant's torn-up furniture, personal items, and damage to units that would take weeks to clean out and a state requirement to store tenant belongings for 30 days after move-out, even in the case of evictions. 

I'm selling my furniture if you have a home you want furnished for a STR.  2bd 2 ba 1 yr old lightly used great condition from in a luxury vacation rental apartment. 

I would not sign a lease and buy a bunch of furniture to potentially make $350/month. 

Couldn't agree more with replacement costs... a lot of BnB-ers trash your furniture.