Airbnb, Furnished Finder, BP (to learn), all the various PM software, etc. 

He left behind some personal items and took a few of ours (it was partially furnished). 

In the first example, the owner rented out a fully-furnished vacation property through an online rental marketplace.

You can specify the coverage level for the dwelling, household furnishings, loss of use, liability, and medical payments to others.

I am also out of state and he is local.We likely will be buying off the MLS and trying to identify something below market value and negotiate a deal.He will manage any cosmetic rehabs, furnishing and then ongoing management of the listing. 

(And no, he isn't supplying his own paint, I already ran that by him just to make sure that wasn't his methodology).By the way, he mentioned the "new" CSLB  limit is $600/materials+labor but when asked for a reference to that, did not furnish anything and I can't find any info online as to that.

Has anyone offered furnished rentals for college students?

It also doesn't take into account costs, headache factor, management, furnishings, etc... 

By "partial" I mean renovating the kitchen and bathroom, painting the place, re-tiling the floor and maybe adding some smaller features that can make a difference to prospective buyers, such as new A/C units, new internal doors, or maybe even sell the place furnished (home staging is not really an option here); with no or minimal demolition, and hopefully without electricity or plumbing issues.

I get why any would view it as a MLM, heck I did, because in a lot of ways it resembles one.