Lauren I like that you are thinking creatively on ways to use the system! I don't think the Event System would be a good fit for this use:
-You'd have to create "events" for every single inventory product and attach dates to the event, which feels awkward
-You'd have no way to track who was taking out the item or returning it
-You'd be stuck with autoresponders and reminder emails that go to each individual event member so you'd be giving yourself tons of admin to communicate effectively (or simply don't use the email and reminders template lineups)
I'm not sure this is the best suggestion, but it represents what is out there for you to use: a software you can load your inventory into and manage all the rental and return steps and then use your Constant Contact account for your email correspondence and email marketing initiatives like updates, newsletters, holiday wishes and more!
https://booqable.com/
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