Also, STR furniture may have a shorter life-span than stuff in a longer term rental.And then there are the zillions of things such as wine glasses, soap dispensers, accent rugs, pictures on walls, shower curtains, napkin holders, coffee makers, hangers, decorative items, and on and on and on..... and on.

@Zach BallouDid you think about electric fire place...low cost and easy to install I know they look a bit modern but can install a nice mantel and some decorative trims around if needed or even some leadger stone panels from floor to ceiling surronding the fireplace would be an option also.Search ebay for electric fireplace for better idea.Good luck

Install new tile and decorative backsplash in both bathrooms (2ndfloor and basement) install new toilets (2) and two new 24-inch vanities with faucets.

Don't over decorate.

Great job with the decorations and furnishing. 

There were four areas of concern that I noted during the walkthrough:1) A $600 kitchen ceiling fan -- the centerpiece of the kitchen decor -- had been replaced by a cheesy $40 bathroom fixture.

Have PROFESSIONAL pictures done once you have it decorated and use Smart Pricing in Air BnB for the first few bookings and make sure to get stellar reviews.

If you are ever in a position where you come into a property after its been rented for three or four years and you feel a sense of personal loss because something's been beaten up, or knocked around, or treated with total disregard, you're way too personally invested in the rental's decoration and not interested enough in how to make money with your rental.

@Thomas N.I've used a clause in my lease to the effect that "tenant understands and acknowledges that the fireplace is for decorative purposes and is not functional."  

Have you considered covering it up with some type of decorative boards?