And the spread between short term and 30+ day stay rentals is so close that I'd just throw it up on furnished finder, rent to a travel nurse or traveling professional, and make close to the same amount without having to manage turnovers and the day to day work of self managing.Galveston is fine but 2nd home demand from all the wealth in Texas pushes prices up too much - great thing long term, but makes it tough in the beginning.

Does that mean cash on cash return including cost of furnishings?

That can help you determine gross revenue.Then back into the ROI....think about your purchase price, furnishing costs, PM, cleaning, maintenance, taxes....look at what is leftover and then decide if it is a good investment or not.Good think is that Galveston is pretty close to a big Texas population.   

Purchase price: $339,900 Cash invested: $140,000 Duplex in Fayetteville NC, bought fully furnished with PM in place operating as a MTR conveniently located near large hospital What made you interested in investing in this type of deal?

@Jacob Joye  You can go on furnished finder and see the competition and demand for your area for MTR , on the first page you can search scroll down and see demand.

Not sure if there would be demand for this but if you end up doing it I think experiment with a couple furnished apartments for airbnb or furnished finder.

I have the funds to fully furnish and get this up and running but I have some concerns about this particular market.

Not sure if it would make sense in your scenario, but it can be very effective.1)Sept - April = Student Rental2) May - Aug = STRIn many cases, because your running fully furnished, will get you higher rents and/or lower vacancy as students will prefer these rentals. 

Invest in furnished vacation rentals!

Does she have any legal recourse to get back any of the $25k she put into the property such as down payment, rehab, and furnishings?