I've been looking at similar properties in the area but am not exactly sure what would be a good price with the house being a new build and all new appliances.

While not scientific, a good rule of thumb is if it's a bread-and-butter south city duplex/quad without much 'pizzazz' (think formica countertops, slightly dated kitchen/bath) in a so-so or even decent area - stick to long-term and don't waste your money on the furniture or even slight rehab.

There's lots of inexpensive porcelain that is literally jet printed with stone patterns, I love it for kitchen floors and counter backsplashes.

We're looking for units that could attract a quality tenant, and one that may stay for awhile, so we look for things like dishwashers, laundry, decent storage in the kitchen, etc.

Shortly after I found out its a Single Room Occupancy(SRO) with communal kitchens(2 floors and 1 kitchens on each floor).

I will do some upgrading to the property as far as bathrooms and kitchens go.

Also does anyone have approximate number to get the house ready (furniture, electronics, kitchen supplies, etc.)?

Out of 12 appliances, we had a warrantee repair on a dishwasher and a warrantee replacement on a fridge.  

Exterior components:RoofGutters, soffit, and fasciaSidingExterior paintingDecks and porchesConcreteGarage LandscapingSepticFoundationInterior components:Demolition bathroom, kitchen PlumbingElectricalHVACFramingInsulationSheetrockCarpentryInterior paintingCabinets and countertopsFlooringGeneral components:PermitsMoldTermites

We added a bathroom and kitchen in the basement on one side creating a 1/1.