Most guests with ample notice will be somewhat flexible, however you should have a contingency plan in place for when you have a guest that is not. 

We have in effect done a pocket veto as we have not responded, but I plan on responding indicating we need above LTR rates otherwise we can just switch to LTR increasing our revenue due to reduced expenses.  

My lender packaged and sold my mortgage, and when I called the new servicer to inquire about a HELOC/ Home Equity Loan they told me I wasn't eligible because of my short ownership duration.I am planning to pay for most of the improvements with cash I have on hand from my W2 job, but I want to get something set up in case of an emergency repair/ use towards other investment opportunities.

I would make sure you are very clear with your client what the rules are in the areas they are planning on purchasing an STR.

I plan to buy my first rental property this year

Planning on enforcing fines and using a camera to monitor the area.

You can still find cashflowing properties in the STR areas people have been investing in, butit is just hard to find "great cashflowing" properties producing +25% cash on cash returns when planning accordingly for capex.

(Currently own a 4 unit rental and 8 acres planned for development in the near future).I have just received my closing disclosure and boy is it ugly.

There's 3 floors of old apartments upstairs we have an architect working on a plan right now.

I plan on updating the whole property and moving into one of the units.