Comment 10 for bug 1640708

So VM has been spawned successfully, VMTP is trying to assign a floating IP to it, and it failed.

In order to run VMTP, one of the prerequisite will be having an external network. VMTP will connect to the VM via the floating IP to setup/orchestrate the VM, and get the results from it. From the log above, most likely you don't have an external network configured, therefore no floating IP can be allocated. The solution to this is to set up a routable external network in Neutron, and try again. :)