It's cheaper money but a higher monthly amount because it's over a short span.

Start a specific amount above the going rate for LTR's.  

This has been the experience in Vancouver and Toronto for the last while, where anything and everything just increased in value by crazy amounts. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

the costs for the Airbnb furnishings could be anywhere from $20K- $30K.. are hard money lenders willing to include this amount in the initial loan? 

This simply means you have language in your lease that states the landlord is responsible for paying utilities up to a certain $ amount (let's say $100 for the sake of argument).

But I think there is a gap and opportunity for investors to realize a tremendous amount of value from this, especially those in the HCOL/SFR space. 

Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

I am looking to house hack in Montclair but I'm not familiar enough with the rent amounts and areas of Montclair to see if it makes sense. 

Did you take professional photos and what do you have the amount for rent?