You have to spend money to completely furnish the place with espresso machines and nice furniture. 

Then any expenses, such as purchasing linens and furniture, can be written off.

Remember , once you put in furniture , and some rugs you dont see that much floor .   

Updated some of the furniture and kitchen items.

Also MTR pricing software might not be effective yet because there are so many variables with properties its hard to truly comp and get an apples to apples comparison (without looking further into the property and the amenities that are covered)For example the pricing software will not know exactly which utilities are covered, how nice the furniture is, term of lease which can impact the rate, other amenities that is not uniform amongst MTR inventory.I recommend manually finding comps on Zillow.

How does our renovation and furniture expense factor into a cost segregation study?  

(It’s worth the furniture if you want it.)Think of it this way. 1)Lots of cities ar banning STR, o requiring you live in the house while it’s being rented out, or limiting you to a few months.

We have a beach condo in Panama  for 137K furniture included.

Provided I am to report the Airbnb activity on Schedule C, can I use the net loss (from painting, decorating, repairs, purchase of washer, dryer, furniture, bedding, linens, towels, etc) for 2019 on this activity against other active income such as W-2 income?

The space is tight and the doors will really inhibit furniture placement.