The only way to really find out is to ask the Govt bodies in question. 

Instead of paying a LS, I can break up payments over 6 months. to help minimize the risk of liquidity, if that makes sense.

There shouldn't be a single able-bodied adult on unemployment right now, but there are because they aren't suffering enough to motivate them to get back to work. 

They recently placed a tenant in a C class property of mine and after 3 months they allowed the tenant to break the 12-month lease if they left the property in good condition/clean and he returned all but $200 of their damage deposit (used to change locks/clean property).

Break in is a big problem in the area.

I know some PMs provide guarantees again tenant breaking the lease and I would tend to trust them more in finding a good tenant.

Sell the property and try to break even.

Break ground May 20 and it estimated to be a 8 month build.

Since the prices of homes are so high in California, purchase a home you can afford with your pre-approval letter with the most bedrooms you can find, then you live in the master and rent the other rooms out to college students, young professionals, single people, etc.This will help you break even for your mortgage payment/could potentially make money each month.

From everything I've read (and it's a lot) it can take up to 15 years to reach a break-even point and that's in an owner-occupied home.