But I don't have the bandwidth to keep furnishing these properties and I also want to make sure I'm not moving too fast.

Plus you'll have to pay to furnish the space, if it isn't already furnished. 

See the source here:https://www.irs.gov/retirement-plans/plan-participant-employ...Therefore, if your property management company manages 401k-owned property, it would be breaking two IRS rules: - Furnishing services to the plan- Receiving personal benefit (compensation) 

The house is a 2-bedroom, 2-bathroom with 1200 sqft of space, fully furnished, and it allows dogs.

@Shawn ChervinskisSee Section 408(b)(2) of ERISA for more information on this exemption.The office space or services are necessary for the establishment or operation of the plan;The contract or arrangement under which the office space or services are furnished is reasonable; andNo more than reasonbale compensation is paid for the office space or services.Regulations issued by the Department clarify the terms “necessary service” (29 CFR 2550.408b-2(b)),”reasonable contract or arrangement” (29 CFR 2550.408b-2(c)) and “reasonable compensation” (29 CFR 2550.408b-2(d) and 2550.408c-2) as used in section 408(b)(2).

If you furnish it and do a medium-term rental, you can get closer and even cash flow a bit with the right property.

Hey Daniel,I think it really depends on what your strategy is.If you are planning to pick the market, furnish and manage the property then education will be extremely beneficial.If you are partnering with an experienced agent/manager then a lot of the guesswork is taken out.I'm based out of central FL and have helped multiple Canadians purchase investments in FL.

Short Term Rental Property, nearby hospitals, furnished to travel nurses.

In my opinion if there is profit to be made why don't you pay a designer to furnish it and turn it over to a property manager and cut out the arbitrager middle man?

Same can be said for the real estate market, the billion dollar industry of forums, books and training has propped up real estate by investors and institutions that resemble an overvalued stock that is not inline with incomes.250k in the S&P 500 10 years ago would be 900k today with no effort.