In most areas in San Diego, that is condos, town houses, etcWith that budget, I would be leery of recommending San Diego.

A fresh coat of paint can do wonders along with cleaning the carpet or using something like rejuvenate on laminate floors.

With that in mind, my first idea was to buy a condo or a house in my local area (Palm Springs, CA) and use it as a long term rental. 

ie, wind damages the roof and that lets in rain that damages sheetrock, floors, furnishings,...   

You could even consider a condo with an established HOA that’s STR-friendly—it can simplify maintenance and management.A Few Other Things to Note: Documentation is everything.

We specialize in single family homes, condos, townhouses, and select small multi family homes.

Most of the properties I'm finding in Hampton in that range are condos. 

We do lower rates, and I'm curios if others have run into a "floor price" below which you just get problem guests.

The floor of a deal killer has no bounds, you could be wrecked for eternity if it's a material deal.

There are a lot of investors that want to get started and don't have the money to buy a 20 unit, but want more than a SFR, so they buy a duplex to quad.I only know of a handful of quads in my market that got cut up into 4 condos.