Use them as guides in decision making not hard and fat rules.

I would still only consider single family as the condo, hotel, & resort rooms are in a far worse over saturated situation.  

Guests have more choices due to this over saturation so it’s harder for Hosts to stand out.  

A fixer upper would be more likely to get a deal on.Certain areas like Orlando are very saturated and therefore competitive to keep rented at a good price.Research insurance premiums because they have gone through the roof in Florida and other areas.

We are saturated just like all of Florida but our growing economy has LTR and MTR flourishing as well. 

Run comps, look at how much inventory there is in the specific neighborhood you are looking at and make sure it is not saturated with inventory.

Looking for not overly saturated.

This article talks about the area being saturated with STR'S and city council looking to double the lodging tax.https://pagevalleynews.com/lodging-owners-speak-out-against-proposed-doubling-of-lodging-tax/

Chicago feels to be saturated and over priced, not finding great deals, but I could be wrong? 

This will help you get a feel for how saturated the STR market is, as well as what opportunities you might have for setting yourself apart in your market.