If you do a furnished LTR you will still have to worry about your furnishings and possibly consumables/linens if you plan on providing that sort of thing. 

My boyfriend and I plan to move to Carbondale, Illinois at the beginning of next year.

@Martti Eckert how do you plan to find reputable contractors that won't take advantage of you when they find out you're OOS?

Sounds like a good plan @Stephanie Medina!

My plan would be use the 401k kind of like a hard money loan where I'd acquire the property, rehab it, then refinance long term, pay off the 401k loan and get it rented.

I even identified a viable property to do this already, but may not have my ducks in line yet to execute with a group.If I can get a fund going, I plan to scale it and do more of these projects since I have the blue print to do this over and over, but just need cash.

Or you get the feeling the members think its an obligation to answer them with full details of how we make money in our business's, Like write their bizz plan for them. 

I don't want to go back on my own word in any way, obviously, and had stated the lease was for a year.Now I plan to use apartments.com going forward for leases and rent collectionThe newest lease with a different tenant is plainly non-renewable and requires a new lease to continue tenancy after a year and outlines fee costs.

My plan is to put 5% down on a 30-year conventional loan and have the rental income help cover part of the mortgage.

Plan for a smooth transition: Respect the notice period and prepare for any potential disputes.