Does negative cash flow make sense for a CA property?

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Should I purchase this CA house hack? Making the monthly payments on my own would be super tough if I couldn’t get the renters in the other 2 rooms (I would be pulling $700 a month out of savings). But being in California, I think the long term gain is worth it.. Right? 
Condo is a 3 bed / 2.5 bath new construction in an up and coming area (land development). 
Any advice is greatly appreciated!