It all just depends on your level of comfort and strategy.  

The unit should be able to get into the 80's. 80 degrees during the day seems comfortable to me.

Then from there you'll get comfortable with the area, contractors, PM's,etc.

Of course with this being in the family, negotiation is whatever the two of you feel comfortable about with.  

I would do what makes you comfortable, but that's what came to mind when I read your post!

While this might be something that Buyers are not used to because they are not comfortable getting into an agreement with an agent.

With a fund some can offer tax preferred treatment such as dividend vs ordinary income so it’s something to review not just gross but net returnsThere is no right or wrong answer to this, it’s truly a preference and how comfortable you are with each type of investment

And growing a thicker skin if you're going to be a slumlord.On The Other Hand, this is a business and if the OP does not feel comfortable with a certain tenant - for any reason really - he needs to remove them, Especially if it is a month-to-month situation, it's awfully easy to do.On The Other Other Hand, I would examine my motives and suspicions very carefully before proceeding....

This approach allows you to create a comfortable atmosphere for future discussions.

As Carlos said, there are plenty of people house hacking in the Bay, but the obvious things you need to be comfortable with are the prices and the landlord/tenant laws.