I’ve been scanning the market and come to understand as my first investment I’ll probably have to find an apartment/condo something like that and I typically hear of STRs typically making more cash flow etc.

Typically with houses of this age - you'll need structural folks to dig and install piers into the soil.

Or does anyone have a rule of thumb on how much profit they typically expect to make monthly on a property?

EPA violations typically travel with ownership.   

• How do leases typically handle furniture/appliance damage or wear?

We go to our property typically 2-3 times a year.

A balanced market typically has around 6 months of inventory, so anything lower suggests a seller’s market with limited inventory.🎆 Las Vegas Rings in 2025 with a Bang!"

Some carriers don't ask but you should make sure that you're not indicating (in the policy application that is typically e-signed) that you aren't using your property for student housing if you are.  

Perhaps do a case study with a hypothetical deal you think is typical for what you are looking at and compare it to the alternative investments you might use and their expected returns.

This is typical let's beat up some landlords.