Check out their stats page on Wichita so you can see who is searching, how many units are available, pricing and then do a property search to see what the competition looks like and how full their calendars are. https://www.furnishedfinder.com/stats?

I imagine there are a lot of 3/2 that probably sleep 8-10 and if you can offer a slightly larger bed count and a cool game room/theme room you can differentiate yourself a bit from your competition and get some extra revenue through slightly higher rate (extra person fees, etc) as well as an overall higher occupancy. 

@Brandon BarrCheck out the STR competition and see if there are any local Meetups you can attend.

However, Even in the most competitive (Sedona) STR market, only 5% of home owners use the formula that gives huge occupancy and prime market ADR, resulting in a strong ROI.

Most great markets are competitive and you are generally taking a risk trying to jump in a 'trendy' market.

There are challenges everywhere for different reasons -- weather, building codes, tenant culture, competitive market, high cost of labor. 

Depending on the current environment and competitiveness of the market it can sometimes be hard to find the same yield for the same risk. 

In the competitive landscape for real estate investor websites, the truth is low-cost SEO isn't going to get you deals that make you money. 

2) How often are they sending you updated rental comparables to discuss price adjustments vs making improvements to meet the competition?

I agree but it is (although waterfront) about a 10+ min walk to the beach and all of the competition has it included unfortunately.