With this, I just decided to purchase a cheap property, furnish it, and give it a go then base my future investments on the performance of this specific one.  

The unit allows weekly rentals and is furnished.

.- New built houses have a comparatively better appreciation opportunity than renovated properties, which can help develop a HELOC option for future investment in more favorable market conditions (lower interest rates and economic outlook)- There will, most likely, be newly built houses that will come on the market in 2023, either directly from builders or banks or agents or TK-providers that were originally built for owner occupancy but buyers no longer qualify or cancel purchase agreements (this could be an interesting investment option that typically did not exist - has to be weighted versus furnishings that are made for tenants which owner occupants probably would not have requested)- Rents have been lagging behind price appreciation.

That will give you an idea of what you should be able to do.Next up would be furnishing it which is another topic in itself.

Any of the following acts between the plan and a disqualified person:- Selling, exchanging, or leasing property- Lending money or extending credit - Furnishing goods, services or facilitiesSource: https://www.irs.gov/retirement-plans/plan-participant-employ...As you can see neither of your scenarios would be possible. 

Furnished Finder is an awesome site to post on if you have a MTR and I believe AirBnb even has 30+ day stay options.

If you buy something furnished in a more mature market, there will be less friction, but your return will likely be much lower (i.e.

Hello Estrella, during my offseason in the Colorado area, I heavily rely on furnished finder for my property at a reduced rate so that I can fill the slow months but make enough to get to get by.

From my limited experience, they expect fully furnished rentals as well. 

We had a surplus of high quality furnishings.