You can confirm that they met all requirements, if that is their concern, but ultimately another applicant was chosen. 

While this put a strain on the operations, we were able to execute unit interior renovations much faster than anticipated, which is always our ultimate goal.

If you find that you actually want to continue with STR, like I did, you'll ultimately want to buy as @Ryan said. 

If you know your target market and you are looking to hire a property management company, I’d suggest vetting them throughly early on as they will ultimately lead to the successful performance of the asset.

The ultimate guarantor on any loan secured by real estate is the property.

I'd say I have a 50/50 chance of sub-metering (which would be the ultimate win), but if not I'm feeling confident I can still make a huge dent in the bill with low-flow toilets and a comprehensive plumbing inspection. 

Ultimately I have determined that my LTR portfolio will continue to be my bread and butter but we may try to get a STR as a supplement.

The ultimate pro move is to first request a Credit line increase on a preexisting personal line and then get the new business card and then shift the credit line balance over as needed. 

Ultimately we are still responsible for the water if tenant skips out.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.