For the arrangement to be legitimate, the property must be treated like an investment property that is operated as part of the business.

I am bit surprised that anyone who operates a STR would consider not having the correct insurance.AirCover and VRBO's coverage is not insurance.

As a savings of a few thousand dollars on furniture, could determine if your occupancy rate is 65% versus 70%...If the revenue is $50,000/yr that's $2,500 in one year (which could be the breakeven for that specific line-item expense).To determine you total breakeven point occupancy rate, and not just related to the furniture, take your operating expenses plus your debt service and divide it by your effective gross income.

It isn't a big job but I don't want things to go south so I stay in it.Of course I practically live on this forum so I pass along any pertinent info I find as well as answer questions.

Now you are saying you have no experience owning/operating an STR, that's another hit.  

Go to a ton of properties with a contractor that you know and trust, have them bid properties knowing that you are not going to get the deal (they know they are not going to get the job) so you zero in on a rehab price for any property.

Some operators really need better training and education and drag down the great operators who are doing it right and offer a great service and product.

Could be very profitable if you made this your job though.

I want to ask about PA's multifamily (mainly duplex) scene in the Philadelphia and Pittsburgh areas.Currently, I'm in my mid 20s and am starting a new job in PA.

@Andrew Self lack of two years of employment history is not a deal breaker depending on what you were doing prior to starting your salary job.