Forget the opinions, look at the supply and demand in your area.

On a final note, please verify that there is a demand for this unique investment approach in your market.

is that the Fed is expected to lower the rate so that we may see more buyer demand and prices wil hold steady.

That will give me peace of mind, especially since I am self-managing with a demanding primary career that is not in RE.

I would start with a written violation and demand they clean up their act or move out.

This will keep it affordable for you but will always have high rental demand. 

And the neighborhoods I do know are fairly in demand areas.  

Like every where inventory is low compared to demand.

It's developing rapidly and has demand for tenants.

As far as STR goes, you can house hack the property that you first buy (in a single family home or in your unit of a multifamily property) and potentially do short term rentals in all of the other units or in your exiting property.STR as a way to invest is getting more challenging currently as supply of new STR inventory has been outpacing the demand for STRs.