I do not have the finances to make a down payment on any property at the moment.

If you put that in terms of percentages for a moment - that is $120/$300 = 40% of your net profit going to the property manager.Often property management charges the first month's rent as a fee to place a tenant.  

It depends what you need at the current moment?

I don't think you are in a position to buy anything at the moment.

The post below has a link to it if you’re curious:https://www.biggerpockets.com/topics/693527It was my attempt to model the key financial incentives for REI, which members have mentioned above, like inflation protection, capital appreciation, tax benefits, equity build up, and of course the beauty of refinancing.If you’re familiar with project financing you’ll know as value of real capital appreciates regearing will boost returns quite significantly.

Her attempts to become a lawyer in moments like this are hair raising stupid.

The FHA loan has an inspection requirement and the self sufficiency test that scares a lot of sellers. 5% is more common here at the moment. 

I do like the idea of house-hacking, but I'm pretty rooted in LA at the moment.

You may make a quick return in a hot market, but the moment that market turns south (which it inevitably will) you will be scrambling to not lose everything you just gained;  2. 

Congrats on the momentous shift in you and your family's life!