You better buy a great place, furnish it well, and take good photographs, not to mention iterate it with professionalism.

The general rule around here is 2bedrooms and less will do well on Furnished Finder + airbnb/others.

Most folks protect the furnishings with a security deposit, would make sure that is detailed in your lease agreements

Use STR-specific insurance to protect both parties and automate operations with platforms like Airbnb, TurnoverBnB, and PriceLabs.Taxable income from the STR must be reported, but you can deduct related expenses like cleaning, utilities, and furnishings.

I had been somewhat interested in short term furnished rentals (30 days or more) I looked into Homesuite.com then I called a few operators around me to feel out the competition. 

What was the cost to furnish?

For us we all typically use 0% business credit cards to furnish the property which can amount to $40-$60k+ depending on how crazy you go. 

Are you familiar with how MTR works and the upkeep and furnishings needed and who the target renter is?

You can also put it on furnish finder and try to get a medium term rental until busy season. 

If you want to put the deposit in a out of state/online bank, then you will have to furnish a bond.