I have some perspective on this.For me I see this as the market finally catching up with the excess inventory created by residences moving out of OHIO and that area to the south..

It seems excessive now that we are really taking a hard look at things. 

Use the excess cash to buy more real estate

Ensure you get a detailed fee breakdown.With your solid income and credit, you should be able to find a more suitable loan without excessive fees, so I'd recommend getting a second opinion.

It reaffirms that by taking action, continuously learning, and being willing to adapt, investors can achieve their goals without the excessive financial burden of costly courses.Thank you for sharing your wisdom and encouraging fellow investors to take the leap and begin their own real estate journeys.

How do we protect ourselves from a tenant causing us significant damage in excess of the deposit amount? 

@Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: The value of a deduction depends on (a) whether you're actually able to use it to reduce taxable income and (b) your marginal tax rate.As an STR, assuming the average rental period is 7 days or less, key items to consider are: (a) material participation and (b) avoidance of "excessive" personal use.

Lower demand and excess of investment properties. 

I would guess in the near future you'll start to see meters that automatically shut-off after excessive use.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.