I have no problem giving time to bid a project I may be awarded (will only lose the project if my cost, working style, or availability are not in line with goals); however, I can't afford to give time bidding a project that a client may be unable to award, even if we’re the perfect fit (they don’t own or have the property under contract).

They were a perfect fit for me at that time:  no risk and no cash-out-of-pocket.

If you look at the total returns (not just cash flow), you're probably much better off investing in something today than waiting for that perfect deal that may never materialize. 

No one can predict the future, all you can do is plan for a less-than-perfect one.

Many houses do sell well over ask but that's not true for them all and I just saw a property pop up this morning as "price decrease" on the MLS that would work perfectly for house hacking. 

Some investors try to find the “perfect agent” with access to off-market deals, amazing opportunities, and so on.

If you want to live closer to the commercial strip and find a perfect duplex there, you'll have success with the tenant pool that also wants to live nearer to the commercial strip.In terms of SFR vs MF pro's and con's, a single-family home will have a larger resale market when you want to sell; more people are shopping for houses than duplexes.

We got a great deal on it, making it a perfect wholetail deal.

In a perfect world of renting all rooms out 100% of the time, I would be bringing in $3,500 per month, which offers significant cash flow above and beyond my PITI of $1,930.

Jon Holdman put everything perfectly.