I know this is an older post, but had a quick followup question-If I am currently not a host, but I do all the paperwork to become official FIRST, then if I buy furniture, make improvements, etc would all that be deductible?

You might want to put in your leases that moving furniture by tenant and guests (that includes parents) are at their "own risk".

I might mention that if you have properties and rent to students please remember alot of them (not all) have victorian, ton weight, antique furniture that has been handed down and all try to move each piece with a relative who may or may not be familiar with how to lift much less carry furniture up and down stairs.

It's not a one time trip to IKEA and you're done (plus think about all the time it takes to put together IKEA furniture...).

I also measured rooms during the inspection period so that I could order furniture. 

Buy 2nd hand furniture or rent it. 

We bought it, put 9 beds in there plus furniture and appliances.  

I passed through being a janitor, fast food worker, furniture sales, quality control “chemist”, phlebotomist, etc en route.

Say I go to a store that offers financing and buy $1000 worth of furniture with financing.

RENTER'S INSURANCE Tenant's personal items, including furniture, jewelry, clothing, etc. are not insured by Landlord's insurance company.