We're an appreciation market, not as much of a cash flow market here, unless you're putting a large down payment or actively managing STR's.Buying out-of-state can get you more cash flow, but the tradeoff is less appreciation (usually), and cash flow can be eaten up by maintenance and expenses.

-- sort of depends where you live and if you want to invest out of state / have the ability to manage a team remotely, the best out of state investors are very active in managing their teams.

@Grant ShipmanIn my experience with these units are very difficult to manage and people at the 30% level also create a new set of problems.

I run Blaze Real Estate a property management company in Amarillo.

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

Learn local landlord-tenant laws, FHA and VA loans, and property management software to streamline rent collection and maintenance.

Managing remotely works until it doesn't.

But yes we do bifurcate our portfolio and manage it to make sure it’s well balanced as well and not teetering too far one way or the other.Chris, I never knew about SEC audit.

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

Property managers don’t pay for problems.