I don't like it - I think you are missing management fee expense, repairs reserve, and capX reserve. 

California is too expensive. 

Add in there too against the expenses of the personal house condo fees, if she's wanting a condo.

So pretty expensive if not working; my husband worked up there.

I know California is expensive, but you can take the 50K and use it as a downpayment for a local propoerty.  

Whilst any assessment cannot be final at this stage it seems we have incurred ceiling damage to units 17 and 18.Terry has instructed Mr Cox to commence repairs immediately and keep a tab on expenses for a possible insurance claim.We feel sure you will agree that the priority is to get our tenants rehoused without any avoidable delay.

In CA, you're required to send the tenant the actual receipts justifying the expenses, not just estimates.

My primary goal is to reduce my housing expenses by house-hacking.

Budget can be up to $1M but  according to my research, it appears that the more expensive the condos, the more difficult it is to breakeven as a rental property in good quality neighborhoods.   

Because if they rent it's a straight expense deduction.