Too much supply, and very little demand right now. 

There are typically a long list of other students and Section 8 holders waiting in line for a student or Section 8 specific rental, which, when properly screened tenants, could mean they actually are more respectful of the property because they know how replaceable they are and how limited their options are (high demand, low supply).

However, by the time I started construction, supply costs had gone up due to Covid.

This also supplied me leverage to fire a contractor if I chose to without losing the permit (since I pulled the permit(s) I wasn't held hostage by the contractor).

in Florida getting applications through Zillow without viewings aren't unusual as the supply is tight. 

In our case, we pay for all utilities, provide shared supplies, and pay for a monthly house cleaner.

Versus being in a high occupancy market with more supply and lower nightly rates.

Where we are, the market def has cooled and supply has increased, unless it's a great deal, we are willing to wait for a bit.

I don't have to supply clean towels and linens and coffee setups and recommend things if they call and furnishings and a lot of headaches that short-term rentals have. it's the difference between gross and net profit.

The most important person you need to find is a cleaner; with a MTR, they won't be going into the property as often, but they should be able to help you will different "boot's on the ground" things like taking over supplies, taking out trash, replacing bulbs, batteries, etc..