Quote from @Wale Lawal: @Paige GardnerYes, this strategy is possible, but it comes with risks that you need to manage carefully.

@Melissa Sejour a good property manager will give you a lot of information that you care about.

STR Property management is common and I know a lot of folks doing this.  

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

I have 3 homes managed by a property manager.

We also would like to self-manage if possible.

Great place to meet other investors, agents, property managers, and contractors.

@Tyler Garza With my CFO clients, I generally use 8% vacancy and 25%-35% operating expenses depending on if they are self-managing or using a PMC. 

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

The building's Property Manager is sympathetic to the owners at large, but says they can’t do anything until instructed by the Board, and they indicated the building’s lawyers would only respond to Board members.