QB Issue Resolution:

Your rental equipment is managed as Service items, or Noninventory Items, because that links to the Rental Income account

Resolution for Issue 'WIll quickbooks work with an Equipment rental company? If so how do you set up rental equipment?' available: Yes (Solved).
Source: Intuit Community forum.

WIll quickbooks work with an Equipment rental company? If so how do you set up rental equipment?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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