Code compliance will vary wildly, especially for California. Most areas don't care too much about low voltage, though. I'm a little confused about how to want to run the pipe... down the exterior wall into dirt, drill inside wall and come up through the wall cavity into the eaves? My area on the east coast would have no code issues with that, but it's a lot of work (are all of those blocks hollow?) and you'd need burial-rated cable. If you're talking about a wall mount and using the eaves, could you just use conduit dropped from the eaves? Secure to wall, terminate with junction box, mount camera to that, paint all to match the wall.