Quote from @Mollie Rigby: It will be STR, currently vacant Hi Mollie, Is the property going to be furnished at closing?

Is it already furnished? 

You way also need creative financing or change in use (say rent by the room or rent it furnished or what not).

Upon touring the property I realized I would furnish and decorate very similar to the current owner therefore we would like to offer asking (as the market has made an incredible shift in the last few months) but also ask for them to include the furnishings and decor.

There's still additional work/furnishings to do, but the place is livable.

Hey @Kerry Baird, you have probably seen my posts with my opinion on furnishing.

So many special events it seems a natural…Need resources for furnishings as well as data/technical info.

After 26 furnishings I think I got my furnishing costs zoned in.

I would recommend targeting a 2-4 unit (perhaps with a "bonus" unit) that you can furnish and rent out MTR (30 day min). 

You would have to have $300k in cash sitting around to make the down payment, $20-40k to furnish and get the property rent ready, and another pile of cash reserves set aside to cover $50k annual operating losses.