You'll need decorative items, creature comforts like books and DVDs, linens and towels (including enough for your longest anticipated stay), bathroom items like shampoo and soap and toilet paper, and a monthly budget for re-supplies of these.I'd also recommend purchasing a vacation rental insurance policy, to cover the furniture items and other things which may get damaged by a guest. 

What one person thinks is remodeled and nice is a 3 star stay for others.Sometimes it is a big thing like a dirty house etc or sometimes it is a bunch of smaller things like 3 forks, no bowls, poor quality linens, that sort of thing.My charity booked a large STR for a 2 day board retreat a few years ago.

This is a partnership, and they need to allow you to operate your business the way you need to, and you need to be their most reliable tenant that always sends a rent check like clockwork each month.Even if you get at or below market rents, you need to have a good idea of what your operating expenses will be (utilities, cable, consumables, damaged linens, etc.) and make sure the numbers leave you room for profit. 

Have it staged nicely with nice linens, good pillows etc.

I can get 95% occupancy on my 1BRs and there is almost never any damage aside from linens and towels and the occasional little things.

We don’t do over the top amenities, just basics like coffee, televisions and comfortable linens.

Although STR can seem sexy and the potential to make more than a long term rental, you also have to consider the start up costs...furnishing, linens, plateware, small appliances, washer/dryer, baby gear, decor, pictures, curtains, televisions, games, routers, professional photos etc etc.Hope this helps a bit, not trying to talk you out of it, just food for thought.

Our cleaners charge $175 per cleaning - this includes linen service so they can flip the place pretty quickly without needing to do much laundry.

Turn-key furnished down to linens & kitchenware.

When you are putting your numbers together for a new STR property, how do you look at the cost of initial furnishings, linens, etc?