This term has nothing to do with being licensed to write insurance or not.  

I searched online but couldn't find any answers.What does the process look like and how long does it typically take?

Buying a foreclosure property expect that it is going to need some significant work to get it sellable - so consider it a fix and flip.Not seeing too many short sales today but be patient as they can take a long timeIf you are starting out, it depends on your level of risk as mls I would consider lower risk than foreclosure since you can actually see the property

@Emmanuel OlaIf you can get a longer term conventional loan I would choose that over a hard money loan every time - this is of course assuming the hard money loan has higher interest rate as well as a shorter maturity date

@Zac LindquistNo VAs are used here; I think I will self-manage as long as possible.My occupancy would be close to 100%, but because of house hacking, sometimes I choose a gap between TMP contracts so family can visit.I only list on Furnished Finder (FF).

A Hotel and AirBNB are both short term rental models. 

We've come to realize that the Boston market is too tough and the numbers don't make sense (to even house hack), so just recently, we decided to hone in on Plymouth, MA... with the idea that it could be a good tertiary market to do furnished rentals (thinking short-term/AirBnB in the summer, and mid-term in the offseasons).

I doubt you can get more than $500 - $1,000 extra with a fully furnished home on a long-term lease.

Once I get settled, I plan to start investing in short term rentals in Auburn.

Our research showed that furnished properties rented through the MLS have a $.60/SF to $.70/SF incremental rent above non-furnished long-term rentals.