I'd absolutely focus on quality over quantity here.My recommendation is to be diligent and narrow down your research of where based off why, let go of the regret & resentment and put some actionable forces into getting your first REI and doing what it takes to get to a 2nd without any compromise.

I would highly recommend talking to Jeff Weller at Coast 2 Coast and Fernando Corona both are also PadSplit hosts but we're some of the first expert lenders .

He browsed through the lease and recommended to use the 60 day notice clause in the lease to send a lease termination notice.

If NY is where you decide to be I would strongly recommend connecting with @Mohammed Rahman he is who I would use. 

Any specific neighborhoods you recommend looking into—or areas to avoid?

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

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

If so, I always recommend getting the study done prior to rehabbing.

If you are a beginner I would recommend staying on platform.I get more scam attempts on VRBO, a lot of people offering to pay by company check. 

If you can come in and operate effectively I think you'll find success rather quickly due to that.BTW - for a property management platform I would highly recommend Buildium.