We recently paid off our debts, and assuming no mortgage, we currently save about 70% of our post-tax income, around $10-12k a month.Would you still highly suggest getting a 203k loan, or would you recommend getting a standard mortgage loan from a lender? 

Local and state laws are changing on the daily so I think that the right Property Manager really helps with that but hiring a PM or self managing is always a personal call.

For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, 'This person began to build and wasn't able to finish.  

You want to be able to select who rents your house and how do you know the person they sublet to will pay the rent and take care of the place?

well, I guess nobody knows where to find him and the one person who is reselling his materials is terrible at marketing and doesn't respond to email questions.

If you know it is allowed in the area you are looking, but have seen one person have a problem, I wouldn't make a big change to my thinking based on a single incident.I haven't heard of anyone having the same issue.

This is why a machine cannot calculate for the irrationality of a person buying a house over value because they like the cute garden. 

I netted enough to make a decent profit AND my guests and I got personalized attention that is critical to STR success.

I paid not much more than the assessed value of the LAND!

I personally am a STR manager and know two STR managers in AZ (websites below) and happy to answer question about the process or what to look for in a good manager if you'd like!