For new STR owners it's going to be difficult to get going with more competition - but not impossible.

I had made a list last year from the kind people on BP...I called around 12 banks, found the 3 with the most competitive rates...lost the list and all my info in a house move...I’ll get to calling these banks tomorrow!

In an ideal situation, this kind of deal can benefit all the parties involved, especially if it's a highly desirable property; The seller gets some privacy, the agent makes a few calls, and the buyer has less competition.

With the increased competition among sellers, it’s crucial to prepare a listing to stand out among the rest and work to address buyer objections prior to going on market.

Investors flock to them, so you have plenty of competition and I see super low rents.As with @Alecia Loveless advice, I would suggest buying resales. 

There's so much competition that is willing to overpay for homes right now.  

@Michael Csrnko1) Make sure to use a pricing software like price labs or wheelhouse to have competitive pricing. 2) Don't always give refunds or credits to guests when they complain to get a 5 star review.

There are a limited number of permits available in each neighborhood and there is competition from hotels and push back from the community.

The vacancy percentage is higher than desired and it is very competitive to get renters into both units.

There is a lot of competition in Greenville, but a very desirable market.