Quote from @Danny Gonzalez: @Joshua Lanzieri  I’d recommend hopping on a call with your property manager as soon as possible to clarify the situation.

I would also suggest letting them know what the requirements are prior to the showing, and possibly even allowing them to sort of fill out a questionnaire and making it known that failing to meet one or more of the requirements could result in denial of a tour however, everyone is encouraged to apply.Quote from @Emily Mohr: Thank you @Charles J Sabo, @Caria Mitchell, and @Matthew Becker! 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

If it is a working STR, that really plays no part in the sale of the property.

I can see a few possible outcomes. 

I am a current Senior at Catholic University of America playing Baseball and finishing up ny accounting degree.

And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

I do think house hacking and small multifamily are the best plays at the moment. 

Is it worth doing any work to it as an "owner", possibly me going the property management way, or just stepping away from it entirely until the deed transfer?

In my opinion, it is better to get a property rented quickly (even if it means reduced rent) than it is to get it rented for the highest amount possible.