This is most important so be sure to heavily research oil tanks, prior uses for anything automotive, dumping, processing, etc. 

I'm familiar with OKC's strong oil and gas sectors, but curious to understand why OKC is considered a "recession proof" city by some.Is crime a major issue throughout the city in your opinion?

Sometimes being a big fish in a small market has its advantages, too.  

Supply kitchen utensils, pots and pans, toaster, coffee pot, everyday basic spices/oils, iron, ironing board, etc. 3. use white linens and towels so they can be bleached 4. since my vacation rental sleeps 10 and tends to cater to families I provide lots of board/card games (I get them at second hand stores for a couple dollars and have received positive feedback) 5. above all considerations, ensure it's clean.  

We actually did drop rents, even though most people say rents won't drop, in an oil patch community in Texas. 

The lake is really for looking because a) there are/can be alligators in there and b) it's not large enough nor permitted for boating, though people do fish in it. 

@Joe Fish, A lease with an option to purchase it at a later can be a splendid way to control the property ahead of your 1031.  

Also, how is the STR market up there during the winter months with ice fishing and snowmobiling? 

When I started buying, none of the bigger fish wanted to buy lower end condos like I was doing and in most auctions, I was the only bidder.

I like vacation rentals so I want to be in places where there is sun and water and fishing.