Any local investor in our market can look at these so called 'deals' and let you know if they're realistic or not.If they bought them and there was PERFECT management by the perfect PM (there is no perfect PM), there would still be massive issues and the buyer would still have been mislead.

It was perfect to lease out the bottom our first year, which covered a substantial portion of our $1,800/month mortgage, but we recently had to 'boot' the tenants downstairs so that we could take over a couple of the rooms (baby number 1 on the way and I needed to move my office to make room for our little guy - crazy how time flies and space requirements double ;-) ).The hot Colorado rental market got me thinking.  

I myself am an architectural designer with over 30 years experience building so they are a perfect fit for me and they have deep pockets so I can go after bigger deals.

That sounds perfect!  

I currently almost took down a perfectly good existing home structure in lieu of losing 10 weeks in getting an unexpected variance because I was more concerned with the loss of buyers and home value. 

I have Perfect Credit but do not have money to put down other then what I have in my ROTH IRA. 

The view on my property exists, but isn't perfect.  

Let's be honest, that's(appreciation is) where the big bucks (big gains) are and LA is the perfect place to do it.  

Everything was working perfectly until the 13th month when the buyer suddenly stopped making his monthly payments and abandoned the property.The seller panicked and started to look for an attorney to start foreclosure in order to take the property back and put a renter in the house.

The inspection report is ok, you don't have to fix every single thing, there is no perfect property.