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

Managing remotely works until it doesn't.

property management nightmare ————3words

.- I would highly suggest you plan on using a property management company.

Property managers don’t pay for problems.

As a management company, we also have a duty to get a property occupied with a qualified resident as soon as possible and sometimes that means adjusting rents down for right now to generate revenue.  

Plus managing tenants is a bit more time consuming with this model. 

Here’s why Oklahoma might be a great market for you:Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.Landlord-Friendly: Simple tenant laws make managing rentals easier.Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.How to Evaluate Deals:Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).Let me know if you’d like tips on analyzing properties or finding deals!

I'm with a third-party Property Management all over Houston managing a little over 300 Single-family or Small Multi-unit rentals!!

I have worked with the closing team, renovation team, the property management team, and the customer service department.