I'm not sure how old you are but you must recall college life, particularly off campus living. just a few concerns:  furnished units have to be covered on your insurance which will effect your premium.you gotta be mindful of damages to the furniture in addition to the rest of the place. not everyone will havesticky fingers but be prepared for the occasional theft during transition at the student occupied units. the bedbug epidemic comes into play particular with the more traffic. again, its my coin. feel free to disagree.kudos,Mary

That's the rent you collect, and not including any expenses such as utilities, furniture, supplies, cleaning, etc. 

The landlord taking it back and your furniture is in all the units.

If this were the case, though, I would probably convert my house to more of a standard long-term rental and go through the process of getting rid of furniture, etc.

Also does anyone purchase their own furniture for staging and just put it in storage when it’s not needed?

Here (Myrtle Beach, SC) we have furniture tax on income or vacant property, as well as a higher rate for secondary properties. 

I fixed it a bit (mostly cosmetic) I staged it with furniture I bought for it What was the outcome?

Once I purchased I fixed it a bit (mostly cosmetic) I staged it with furniture I bought for that house, it's super cute now.

Office furniture and fixtures are 7 year GDS assets.Absent an electing real property trade or business election under 163(j), and ignoring the land and amortizable intangibles, I'd expect to see 5yr, 15yr, and 27.5/39yr GDS assets only on a residential rental's depreciation schedule.Agree that it's difficult to navigate the tangible property regs and depreciation class lives without a CPA.

That and I imagine that any damage to their furniture could be taken out of the deposit at move out.I guess the biggest consideration for me with this property is do you expect the property to appreciate?