We will have tenants for 3-6 weeks following closing so theoretically we could insure on a traditional policy in the beginning, as it would be much cheaper.

I'm not from your state - but in Florida your taxable basis is established by your purchase price at the time of the sale.  

Plus, equipment can be a hefty expense and may need repairs over time.Instead of a conventional treadmill, I would consider a walking pad paired with a height-adjustable desk-- its cheaper and can be hidden/discreetly tucked away.

In some states you can have cheaper LLCs.

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

It's generally cheaper to non-renew someone if they stop paying than to try and evict them. 

It is very common to see some seems open up (especially on cheaper made brands) over time.I've also noticed that if a floor has a low spot that is parallel with the planks it can keep the planks from locking fully.

From online research, I was able to find out that other cities in Ohio tax all your income (w2 & rental income) if you own a property there & some give you a small credit for taxes paid to other cities.My question is, if I buy a property in Cleveland (or a CLE suburb), would my w2 income be taxable in Cleveland (or a CLE suburb)?

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

We always use one in Florida, and taking the correct actions now is cheaper and faster than anything else.