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. 

I have several ideas.

I don’t like my tenants getting the idea that they will be charged anytime they report something wrong.That’s just my two cents without knowing the entire background on your relationship with the tenant.

Great idea. 

I've house hacked twice starting at 22, and here's what I learn and what I regret: https://www.biggerpockets.com/forums/922/topics/1133476-hous...Hope this helps! 

Your question has been debated between BP tax experts both privately and publicly, for example here: https://www.biggerpockets.com/forums/51/topics/819991-expens...And we ended up where we started: no consensus and no clarity.There have also been court decisions that support my interpretation, even though I personally find these court decisions debatable.

Not sure it will replace GC estimation but at least will give you an idea. 

Yes its a very bad idea.

Hoping to connect with some great people here on this topic! 

Have an interesting situation, looking for ideas on the best way to solve a problem for a distressed homeowner.