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. 

Or a patio.

Are all posts going into dirt or are they patios/concrete anchoring to contend with?  

Most recently, I worked with a client out here in Colorado that let their parade of homes house (from 25 years ago) in a gated community literally fall to pieces; mold between window panes, water infiltrating the kitchen due to lack of roof repair, patio pavers crumbling apart, downspout misplacements that caused water infiltration into the living room....just a mess. 

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.

Make sure on the second home to.1 - Good neighborhood. 2- Three bedrooms, Two bathrooms  or larger. 3- Possible chance to ad on a extra room,,@ where patio is, or back of house?

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.