After downloading the New L SDK and 20 SDK when trying to refresh, build, or clean my project i get a
Error:Error retrieving parent for item: No resource fou
Turns out that I had to make the target and compile version to L which meant that I could not run my app on older SDKs. If you want your app to run on SDK 19 and lower you have to set your compile and target version to 19 and your min SDK to whatever version you need.
Next you have to adjust your imports to the version that is compatible with the SDKs that you have chosen to compile for. For example if you want to use the v7 support library on sdk 19 you must import it like this: compile compile 'com.android.support:appcompat-v7:20.+'