"Analyzing Deals" What do you mean?

[Howell Conant]

Hello Again BP community,

This may sound like a foolish question but I hear on the podcasts and what not all the time, "analyze 2, 5, 10 deals a day if you want to get good at recognizing a deal." Are there deals to be analyzed on BP? Or do I need some sort of MLS software? Or can I simply look on Zillow and places like that to find deals to analyze.

Also, how does one go about a deal? Say I'm interested in flipping houses. Would I guesstimate the ARV and see if the home sells for 70% ARV and then track what it sells for in the end?

I would be so grateful if someone could point me in the right direction on this subject.

Thanks you for your help! 

Howell