I intend to purchase and then move.I would prefer long term leases however the proximity to colleges led me to believe that short term rentals to grad students could be an option.I am open to minimal renovations as I am not experienced and would be relying on others as I learn.

Therefore, I had to rely exclusively on my agent. 

By no means do I intend to rely exclusively on the biggerpockets community to move forward or not move forward with this property (that would be foolish).

You'd have to rely on photos or video.   

This is where you need to rely on other investors - or a very competent contractor. 

Had an issue with being able to transfer the mortgage to my LLC (which thankfully the lawyer caught as it would have really been a bad situation), so I am relying on liability coverage to protect myself and my personal assets.

Commercial banks rely heavily on the stabilized value that an appraiser provides. 

These markets typically have lots of competition, higher home values relative to earning potential (since most homes are essentially valued like hospitality assets instead of homes), and lower regulatory risk since the local areas have embraced STRs (rely on them for taxes, etc.).

Should I rely on these one-stop-shops?

I also have to potential to roommate with a family member which I would charge them $800 a month for, don't want to rely on this but it would help.