How much cash beyond the down payment it actually takes to open the doors on a short-term rental

Both numbers are real, they are just different products. $15k is IKEA and a Costco run, and it books at the bottom of the market. $40k is a designed unit with a photographer, and it books at the top. The condo does not decide, the owner does. What people leave out of both figures is the consumables and the small stuff: two full sets of linens per bed, a vacuum, a first aid kit, a fire extinguisher, coffee maker, cookware, hangers, a lockbox or smart lock, wifi install, plus the trip to actually assemble everything. That is easily $4k to $6k on a two bedroom and it never shows up in a single photo. Then hold three or four months of full carry in cash, since early bookings will run at $0 reviews and prices to match.

Add the condo association question before adding up furnishing costs. Roughly a third of buildings in many tourist markets either ban short-term rentals under 30 days outright or have a rental cap that is already full. That is a bylaw read, not an ordinance read, and the listing agent frequently does not know the answer, so it needs to be confirmed directly with the association before relying on any furnishing estimate.