Transition Matrix eigenvalues constraints I have a Transition Matrix, i.e. a matrix whose items are bounded between 0 and 1 and either rows or columns sum to one. I would like to know if it is possible that in any such matrices the eigenvalues or eigenvectors could contain an imaginary part. Thanks in advance.

I think it is worth pointing out that, having daw's fine upon which to build, we can easily construct a family of irreducible transition matrices which also have a pair of complex conjugate eigenvalues, where by "irreducible" I mean there is a non-zero probability of any state transiting to any other state in one step, that is, all matrix entries lie strictly 'twixt $0$ and $1$.  (Not sure if this terminology is standard, but I know the underlying concept is important and useful.)  For if we let
$A = \begin{bmatrix} p_1 & 1 - p_1 - q_1 & q_1 \\ p_2 & q_2 & 1 - p_2 - q_2 \\ 1- p_3 - q_3 & p_3 & q_3 \end{bmatrix} \tag{1}$
with the $p_i, q_i$ sufficiently small albeit nonvanishing positive real numbers, the the resulting $A$ will still have a pair of complex conjugate eigenvalues, by virtue of the well-known fact that the zeroes of a polynomial depend continuously on its coefficients.  The polynomial in question here is of course the characteristic polynomial $p_A(\lambda)$ of $A$.  Since the complex eigenvalues in the case $p_i = q_i = 0$ are distinct, they remain so for small $p_i, q_i$.  Of course, $1$ remains a real eigenvalue of $A$, since
$A\begin{pmatrix} 1 \\ 1\\ 1 \end{pmatrix} = \begin{pmatrix} 1 \\ 1\\ 1 \end{pmatrix} \tag{2}$ 
for any $A$ the row sums of which are $1$.
Hope this helps.  Cheerio,
and as always, 
Fiat Lux!!!
