Partially because you did not rent it for an entire year but mostly because of upfront expenses: getting it ready for rent, buying furniture, electronics, and other furnishings, stocking up on initial supplies, and so on.

So my immediate plan was to try to rent this house as a medium-term, furnished rental (basically leaving all my stuff here, taking a few select things) and moving in with her for a few months to kill a few birds with one stone - MTR income, not having to pay for a storage unit for my stuff, saving up more money for a down payment, and caring for my mother.

We just converted our first income property from an Airbnb to a long term furnished rental.

Depending on the furnishing and amenities, it seems probable I could get closer to that $80k number.After I move out, I can no longer operate the property as a full time STR, so I want to switch the strategy to MTR.

My quintessential mountain cabin will include comfortable leather furnishings, wood for the fireplace, big coffee mugs, plaid window treatments and/or bedding, extra blankets, and taxidermy hangings.  

Let's just get the property furnished, a hot tub installed, and start making some money!  

Check out Furnished Finder to see if there are any comparable MTRs and their rate in the area. 

He turned one into month to month furnished housing, and the other building into low end motel.  

If I spent $12,000 furnishing it, that would be a 40% return on my investment to make it an MTR.

My wife is working with a few people on deals now— It seems that the turn key properties are a feeding frenzy, but there are some that either don’t come furnished or need just a minor amount of work that everyone is passing over.