Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required). 

From a personal standpoint I target 70% LTV for any investment I have that way gives me ability to sell it if I need too

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

It might because they don't want any random person just setup a property management software to make it look legit and using it to scam people (tenants)

I do have an agent I know personally but she's only in the area at certain times of the year.Section 8 would be better than nothing.

And you can't legally dictate how much they carry for personal belongings. 

I personally know both @Jaclyn Cano and @Wale Lawal and can confidently say both are great and VERY Investor friendly!

Are you building for pure investment purposes or are you looking to use some of the space for personal/personal business use?

@Micheal Singleton I have the perfect person you should connect with.

We take a "whole person" approach.