Couldn't give a qualitative comment based on the drawing/description provided. However, you may wish to research the development of the modern helicopter design. I kind of remember something about a grave, inherent instability issue until the rotors were allowed to pivot in relation to the shaft.
One added point: if you were to use this kind of like a helicopter but in contact with water, the source of thrust will not be on the same plane as the drag (if I understand your drawing correctly). The result would be an induced pitching moment that would push the nose downward. Imagine someone on a skateboard with a fan on their back. All but small amounts of thrust would most likely result in a 'faceplant'.
For surface craft, the aforementioned airboat is good because it will glide over most surface level obstacles.
For aircraft, remember "That which goes up, will come down at 9.9m/sec^2, or faster." You may think about leaving such designs up to the 'Big Guys'. Getting hurt is no fun (ask me how I know...), hurting someone else is far worse.