It can be just a cosmetic repair where you’ll just do a basic paint job and arranging the furniture or do a complete rehab and fix everything such as renovating the 20-year-old kitchen, putting additions, changing fixtures, and so much more.Not just that, sometimes there are other things that you need to fix and the bad part is you don’t see them or you ignore them!

Re STR, you're right, getting some design/furniture going is a big cost.

After living in the Colorado mountains for many years, it's sad watching CO turn into CA as the outdoors get loved to death. 

Do I start Inside as units get turned over or outdoor? 

Unless you're planning on doing a gut redo of the unit anyhow (which I would guess is not the case), it's much to your benefit to have her leave the place in great condition and sparkling clean rather than leaving a huge mess and denting up the doors and walls as she is moving her furniture and stuff on the way out. 

But that Lake Tahoe 300k gross will help pay the luxury furniture bill very quickly. 

If stray dogs are running the streets, there's trash and furniture out on the curbside, and suspicious looking characters loitering around up to no good, it's probably not a neighborhood you want to invest in. 

YUP for a new construction is runs 2500 to 5k per house depending on how long the furniture is there and how extensive the staging is. 

Boasts in total 4 bedrooms, 3 baths, chef’s kitchen, wood burning fireplace, lounging areas & decks, custom 14ft x 7ft hot tub, in-ground swimming pool with cabana, outdoor 42" propane fire pit, 65 year old cactus garden, boulders galore, & incredible desert views What made you interested in investing in this type of deal?

We may choose to make it a 30+ day rental and see what happens but if the projections are close to accurate we will have worse cash flow and be providing the furniture, etc.