Listing says new roof and appliances and "owner will provide a flooring allowance".

I think spending $30K on renovating/updating and putting brand new furnishing/appliances/TV's/work office will put this above and beyond the other vacation rentals in the small market. 

Big mansion with private pool and luxury appliances?

Depending on how long this would take, I could start renting a unit immediately after paint and new appliances and vinyl floor to get cashflow coming in, and work quickly to get the other unit rent ready. 

I haven't experienced it myself, but I've been told of people installing ventless gas heaters in their house, and then pulling them out later due to the high humidity inside the house.Any gas-burning appliance will make water like this.  

If the Tenant leaves, the Occupant could trash the place or steal the appliances and you wouldn't have any way to prove who was responsible, leaving you to go after the Tenant while the Occupant gets away with it.What if your Tenant wants to get rid of the Occupant but the Occupant refuses to leave?

Get a good NCV (Non Contact Voltage) tester at Home Depot, wave it around all the appliances and see if the tester buzzes or lights up.Document everything you do and every communication in a journal and put the exact date and minute.

You could take it even further and get informaiotn about the age of all appliances and give a calculation of the reserves you will need to replace them when their normal life span has come to an end.

May have to yearly paint, furniture and appliance replacement Finally occupancy will be the key to guarantee the expected income.

Have a contractor come by and ask him firstly if the home has any structural/mechanical repairs needed to it.Then take a look at your comps and determine what features comps have (granite, stainless steel appliances, finished basement,new carpet ,new flooring , ect) then ask your contractor how much it would cost to make your prospective property look like your comparable only slightly better.Once you get the cost of structural/mechanical repairs you then have to ask your contractor how much it would take to put everything in your prospect home , that your comparable have.