That tells you were your competition is at and will help you keep the listing within a reasonable range. 

However, I did not take the necessary steps as I was hesitant due to lack of funding and having potential buyers for deals.

Very reliable and flexible rates are often more competitive then brokerage lenders or banks.

Get pre-approved for a mortgage, conduct a thorough inspection, and be patient in the competitive LA market.Good luck!

But in the competitive Los Angeles market, I had to put up additional cash on top of the deal in order to have my loan taken seriously.

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 would hope that would alleviate the concern with my lack of experience managing properties.

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. 

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

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.