What type of hotel are you looking for? The Holiday Inn Express is the nicest one in town. If you want an authentic old west experience, the Overland is the place. I would stay away from any of the other locally owned outfits, but there's also many chains that are, well, average I guess, Motel 6, Super 8, Comfort Inn, Best Western, etc. If you've stayed in one before they're pretty consistent with what you'd expect anywhere. Motel 6 is technically closest to the track, being on the south end of town, but it's still 12 miles out.

You can camp in the pits at Top Gun, I'm just not sure if they open it up Friday night or Saturday morning. If you're looking to stay in an RV park I would recommend the Fallon RV park over the other one.