I have an upstairs codo that for the first time since I have owned it, it began pouring rain here in Southern California. My circuit breaker is in the master bedroom where one night the power went out entirely. I went to try and switch the circuit breakers back on and the one stating "master" will not stay in the position for on, it goes right to the middle. I then noticed beads of water coming out from the breakers and one single power outlet near the breaker. My wall also in that area looks like its wet. What could be the cause of this? Is it major?

It is major, do not touch the panel, call a licensed electrician for your safety. I think you have a roof leak which is allowing water to reach you panel, that main breaker is saving your life.

Question, by "codo" do you mean "Condo"?

If you do, contact your condo association immediately and tell them of both the water and electrical problems.

You may have wall or roof problems. Possibly both.

As stated earlier by ballengerb1, the master breaker is saving both you residence and person from destruction or death.

Do Not Put This Off.

Like instructed 2 times already call a pro.. sounds to me like a leaky weather head though..

Sorry,14u2c, but I must have missed those comments in this thread.

A defective weatherhead is a fair concern, particularly if the poster has overhead service, which right now is an unknown.

I too assume codo meant condo which tells me there is likely an association board and maybe even a management company that needs to get involved. Not a condo owners job to repair common properties. Now if Kristcat comes back and clears things up maybe we'll know more.

Keep in mind, any circuit breaker that gets wet must be replaced, not just dried out. Be sure the electrician that you or the homeowner association is aware of that ,and does replace any breaker that got wet, after the water has been stopped from entering the panel.