I don't set my specific market because it is small and I don't seek to attract competitors.

Cost of entry seemed very low compared to other beach markets, and the rental demand seems healthy, even with the competition (approximately 800 competitors in the area).Looks like a huge percentage of the STRs on the Island are managed by local management companies, and based on our research, they do not seem very sophisticated. 

Any true professional knows you do not have to bad mouth a competitor in order to earn business. 

From there you can narrow down nearby listings and see what competitors are actually charging.

If they propose to high of a price, I will typically say something along the lines of "Hey, I'd love to pass a $150 cleaning fee onto our guest so we can pay you as much as possible, but unfortunately our competitors on AirBNB are only charging $X, and in order to be competitive we've really got to stay as close to this price as possible."  

The funds are also instantly diversified across hundreds of notes to eliminate geographical and property risk, which is something more expensive to do with single notes that have to purchased wholly.The main advantage I see with your offering is that most of the competitors are rehab and construction loans and very rare to find one this is just pure acquisition loans.

If it is customary to provide a refrigerator and your competitors do, weigh out the option of replacing the refrigerator or just getting the ice maker fixed.

How does your units compare to your competitors?  

Many agents get their money from taking listings away from their competitors.

There are competitors as well.I have a vacation home and would like to avoid a monthly bill since I'm not there all of the time.