It may be your wife's lack/unstable of work history/income.

I have found several wonderful deals, but lost them for a lack of financing.

What the regulatory agencies are looking for is the "intent" to work the issues out with the mortgagor. 

The "bubble" is a artificial market event created by a lack of inventory and very low interest rates.

I'm not sure if it's a lack of startup money or if I just don't know how to get started.

I think Steven is spot on here,  The lack of jobs is the killer in AC and its defiantly nowhere close to Vegas.  

Some I sold in 2006 for 20,000 might get 3-5000 now.Hidden Valley has lots of lots available but not many are buildable due lack of sewers and the soil may be only a few inches thick over rock.  

@J Scott I think about this logically the same way as you, however, I hear time and time again from MF investors far more experienced than me that this lack of correlation is true.  

I'm really curious about this...probably because I'm a professional photographer :) Having seen so many properties online, in newspapers, and free magazines, I have to wonder about the quality (or lack) of the photos of these properties.

If he enters into a buyers agency with you he also has a fiduciary duty vs you.But trust has no place in an investment.