Check out PMW, Property Manager Websites

Quote from @Phillip Austin: One of the best examples I found this year as to why you need a property manager (especially in Colorado).

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

I'm certainly cognizant of the risks of managing a property remotely (my wife and I did rent out our Chicagoland house for a couple years while living in STL).

What property management software or tools would you recommend for tracking rent payments, leases, and maintenance requests?

do you acquire these properties off the MLS ?  

We put a sign on every property to: attract tenants, create brand awareness, and to help prevent scammers from using our properties as bait. 

I would like a book or program recommendations in order to learn how to purchase and manage the extended stay hotel.

That is a good thing but if you have never managed it can still go sideways.

Hey Tyler - thanks for meeting up for coffee, looking forward to partnering on some properties soon!