Depending on the number of jobs and number of new development going on in the area it may just be simple supply and demand.

Let's say there's 3 properties in a 1-mile radius with 5b/3b, but one is a foreclosure and the other 2 are regular conventional sales.If you're doing a comp for your subject (4th) property, do you have to take the foreclosure one into consideration?

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. 

There are still tons of MLS deals getting done regularly. 

STR's don't create real estate value they are a business  I have a dozen and am building 2 more this year so I like the business model and I have over 100 regular rentals.   

Problem working with regular buyers is you take them all over the place and can only take one out a weekend at a time unless using a bus tour,etc.I focus on commercial and not residential but I know it pretty well.

How do other regular condos perform versus them? 

They have to take it out within 10 years, add it to their regular income, and pay taxes at the highest bracket in their life.

Regular maintenance updates from your property manager—such as quarterly reports outlining requests, costs, and resolutions—can also help you stay informed and track spending trends over time.Building relationships with local contractors or networking with other investors in Cleveland can also be valuable.

I fire clients regularly.