Dont stretch yourself out too thin buying new furniture, cars, etc.There are going to be so many more costs that come up over the next couple of years.

They move furniture around and the housekeeper can't move it back by herself.

Thanks for the quick reply, Julie - very encouraging to hear that it's an avenue worth pursuing.I used to be concerned about my personal furniture (which is not inexpensive) but after I added up the opportunity costs of NOT utilizing my primary residence as a STR in my absence, all my concerns about it vanished.

I still need to speak to a mortgage broker regarding how best to acquire the property using the funds as 20% down + closing costs + light rehab and furniture install.

That policy came about after we found (years ago) tenants burning newspapers, pine branches (nice aroma, dangerous for chimney fires) old furniture and trash in the fireplace. 

If the tenant has an expected right to privacy in their yards/ patios  aka fencing, or if it is a SFH then YES give them a 24 hr notice.  

Rats like to burrow so have the exterminator check under any decks or around patios.

My biggest worry is buying all the furniture and items we'd need to make the space a BnB but then it totally failing.I don't want to spend all that money if I'm not going to make it back.

Or they'd see the stairs (which are mentioned in the ad but apparently ads aren't really read) and balk at hauling furniture and groceries up.  

I definitely charge for removal of furniture and trash too