I actually had to get enough units where I could offer tenants multiple housing options when I purchased properties rented at way under market rates and then (an embarassing number of times) personally watch tenants that would "suffer" from a rent increase turn down smaller (but nicer places) or  nicer places in a less prestigious zip code (sometimes only minutes away) before I realized that I was hampering my ability to earn a living in order to subsidize the lifestyle choices made by a some random stranger that happened to live in a property I bought.

There is a 24 unit newly renovated property for sale that the owners paid 1.3 million for before they renovated it and now they’re asking 2.99 million.  

Now it takes a lot more money, there's more competition, and your investment will earn less of a return.I bought 33 units and 135 storage units in six years, and they earn me over $150,000 net per year.

You are in the epicenter of the Hispanic Hub of the United States. 

I considered SFH where I'd rent out all the rooms and keep one to myself, but this seems risky since I'll realistically be away for months at a time and couldn't manage the unit/other tenants.Then I came across some listings that appear to be hotel rooms for sale, with basically the facilities I need (a bed, toilet, kitchen), a price point I can handle (270-500k$, I'd do 20% down), and fairly high HOAs (~1500$/m?).

Investment Info:Small multi-family (2-4 units) buy & hold investment.

You have Non/QM - Bank statement program, if you want to buy an investment home you can use DSCR.If you need to streth income buying a 2-4 unit can help stretch your income by using the rents to qualify. 

Many people tend to start with house hacking where you buy a single family property or 1-4 unit property and live in one unit and rent out the other units or rooms if buying a single family home.

Tenant reached out, sharing that her landscaper pointed out that the concrete slab/foundation where the well water system and AC units sit are "deteriorating."

Large lot you can add an ADU, more parking, pool or take the pool out, add mother in law unit, etc.