It seems like you're figuring your debt service into your direct operating expenses.

The reason I invest in condos as SFR are really expensive and have negative cash flow on Bay Area .

Areas prone to drought and wildfire probably have increased dwelling premiums also.That being said, if this is normal in those areas, the rent should probably cover those expenses without too much trouble.  

The only apparent necessary capital expense is redoing the roof.

If the contractor estimate is needed for me to bid on something but contractor will not come over unless it is paid for to do an estimate but since I am not sure if I will win the bid and can't justify an estimation expense, how do I handle the situation?

Personally, as long as my expense - including the HOA fee, is acceptable, I am good with it. 

They seem very knowledgeable but expensive.

A few other monthly expenses you need to factor in as well below:Management FeeMonthly TaxesMonthly insuranceFactor these in and use that monthly income to tell you if its a good deal or not.

Not even 10% being that a lot of your big expense items should be addressed in the rehab.

- you make 50% of the net profit - that is net less advertising or expensive - so if the expenses are $1,000 you would make $9,500.00 and I would make the same.The expenses are usually the cost of advertising the property for sale.So............... it you are ready to begin creating leads - this is what I suggest you do ---Farm neighborhoods to look for FSBO's, send me as many expired listings as you can in the neighborhoods where we are going to invest, Go to housing court 2-3 times a week to listen to the cases and meet landlords after their case is called, run some ads in the local papers (I will design the ad for you), get me a list of all the local auctioneers in the community, put flyers on super market bulletin boards, ask 5 people a day if they know of anyone interested in selling their real estate.Look for commercial and business real estate for sale - get me all that information and we'll make a call to get information and make them an offer (you present the offer for us)Later in the "Mentor - Apprentice relationship we will advertise on radio.Any questions?