This would be my first STR so I also am personally interested in giving this business model a try to see if I do want to operate in this space longer term and want to do this properly. 

But that is more of a business decision.  

Cost of doing business and making a mistake...learning experience.Be careful with what you consider "market rate"....

Weather cools, people are busy with school, resting from summer, prepping for the holidays, etc.

My wife and I are looking to start investing in real estate so we are eager to learn the ins and outs of the business. 

I seem to remember that I didn't even have a business card until then either.You are VERY late to the game to be making these decisions. 

But that's me.To answer your question, I'm not in the business of recycling dirty money but I think it's pretty well known and established the the proceeds for criminality and the drug trade is invested in all sort of business, especially real estate.

.- bonus points if I can have a separate business w/o having to pay 2x the cost, but it is what it is.- cost is an issue.

New business seeking first investment rental in Indianapolis and south of Indianapolis. 

Often times when a builder/buyer moves too fast, or is too busy and overlooks a key piece of due diligence, the unethical ones will try the "scorched earth" method and blame everyone but themselves, even when they know it was their own mistake, and they'll see if they can scare you, the seller, the title company et al into paying damages/fixing their problem.