carpet / upholstry cleaning machines.. I need a new one

My old Hoover, which wasn't really that great to begin with, is on its last legs. I really don't feel like fixing it again. I need a good machine since I own apartments, and carpet cleaning is something I have to do a lot. Professional size machines, like the ones you rent, are too big for the smaller, city apartments I manage (I have to do a lot of stairs.. which the upholstry attachment is key).
Any recommendations? THe biggest problem I had with the Hoover was it was not really great at extracting the water/soap back out. It always got the carpets too wet.
Should i spend the $$$ and go with Oreck?
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None of the smaller units seem very good at that. I don't know about the Oreck aside from the vacuums being overpriced.
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