We sign the owner line on the lease, but nobody every notices.

Right now there is no sign of flooding or anything, but just wondering if that is a positive thing or negative thing to the property?

It is a good sign that you are skeptical, so don't be frustrated.My advice at this point is to make a post on BP asking if there are investors or investor groups in the city you live in California that you can meet with in person who have invested in the cities you are interested in buying. 

Sign on to the BP syndication wait list and enjoy the life that your hard work has already provided.Good luck

the inspection was easy but indicated I needed to add screws to the condenser to attach to platform (seems reasonable and no idea why contractor did not do it, he also trusted me to do it as no reinspection and all signed off), but more than a year to get the permit opened. 

But lately it has come to situation where student sign 12 month lease, decide to vacate in the 11th month but property manager doesn't let them without paying for the last month which then students decide to stay through that last month.

This type of agreement results in a payment to the broker only if you sign a purchase agreement on that specific property.

Some inspectors may eyeball the work performed and feel it is sufficient to sign off and yet others will ask you to open up the walls to ensure everything was done to code.

Also, you may sign a lease quickly, meaning there is room for a rent increase on the next lease! 

There is  one roofing company I trust but they don't do repairs.There's also the fact that this property is expensive and I think these roofers show up and immediately see dollar signs.