Not to say a few will drop rates significantly, maybe not, but your words here are of site DEVELOPMENT, and development intones an idea of on-scale, a multitude, and a multitude in close proximity for STR is just a resort, or a detached motel of sorts. 

There a multitude of reasons why one would invest in any area such as path of progress, corporation moving to town, availability of contractors, realtor/wholesaler connections, etc.

California has a multitude of regulations that have literally driven the price of housing to astronomical levels and made it nearly impossible to build housing.

It had a multitude of complaints many of which were items listed in the listing. 

I know it covers a multitude of sins, but the touch ups it requires are insane.

BUT, if there are other red flags on credit report -- such as a multitude of collections, high debt, history of late payments, etc. then absolutely not.

For instance I can buy property all over the mid west for no money down or purchase properties at 20 to 50% under ARV any day of the week in any multitudes of towns using the knowledge that I have.But I could not take that same knowledge and roll into San Francisco and replicate what I can do in the mid west.

I would specify a good quality shingle also,,,like an Owens Corning 35 year textured shingle,,,hides a multitude of sins if things arent quite square and level.Just cause the shingles are 'cheap' isnt the quality to look for.You probably have a leak because of improper flashing and counterflashing.

Lots of great people on this site--with a multitude of knowledge.Wishing you success.

Both I and a multitude of court cases disagree with that view.I am not trying to be cute here, but I offer an example.