Renovation/furnishing costs of an STR

[Alex Silang]

So I've heard this can run you a lot - around $30,000 for the average sized home of $400,000 in the area I'm looking at. So that means if my downpayment is $80,000, $30,000 is really going to affect things:

1) Capital raised. I need I need 37.5% more capital

2) If I need to sell in a few years, this capital will largely go *poof*. A new buyer is probably not going to pay the full value of those renovations. Ideally I'd be able to find a buyer that wants to do STR but that's not guaranteed by any means.

3) Cashflow will probably be only $1,000/mo. So back of the napkin, that's almost 3 years of waiting to get the money back. 

I understand that this is just a part of STR investing. Anything else I missed?