I have an airdna subscription for the market as well, removing the guesswork.We bought a 415k home on March 1, invested 45k for a pool, and 28k for design/furnishings/backyard turf and furniture. 6 months later to the day, we're hoping to cash-out refi at a valuation of 625k, all with no "real reno". 

With furniture, decor, etc added in...it was about a $350,000 purchase to get into the nice rental that it is today.

I used the furniture route because it was movable and it was easily usable for other projects in the future. 

But its doesn't seem to be a capital expense I would think since they aren’t furniture?

Purchase Price: 136,400Cash to close: 31,400 (20% DP, some closing costs, some things escrowed)Furnishing: ~7,500 (this includes everything: some appliances, furniture, 2 sets of linens for 5 beds, consumables, and much more)Unforeseen repairs: ~5,500 (re-do HVAC, new water heater)Total initial investment: ~44,000PITI: 850/mo. 

Think about it this way: would you start collecting furniture for the house you're going to buy one day? 

Purchase of furniture and setup (really depends on the size of the property.

Buy and explain felt furniture pads for ALL legs of every piece. 

We bought from Ogle furniture in PF.

I had to replace my grills and outdoor furniture continually.