How many people do this?

Anything less is wasting your time and screwing the seller.

This is why so many people earn large sums of money quickly (lottery, sports, entertainment, etc.) and end up broke.Take Dave Ramsey's Financial Peace University.

But ...The first thing I observed was the replacement cost portion of the quote, was, IMO, less than what it will actually cost to demolish the remains of the existing structure, pay for any hazardous waste removal following a catastrophic loss, and actually pay to replace the property in the event of a total loss, even though I used the quote feature to increase the replacement cost value by 20% (the maximum it would allow).

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

He teaches people to build small, but productive, portfolios.

You will be sick, go crazy and not get it all done and your time will be wasted. 

The two residential mentorships I did were bogus and a waste of about $15,000 all in that could have gone towards a project.

Nor does it pay well for an agent to spend a lot of time with a buyer that has an agency agreement but chooses to sit on their laurels instead of actively pursuing a purchase.Most agents who are serious about helping people do not have time to spend with lackadaisical clients or people who refuse to sign a buyer's agreement.

But I guess to answer your question, I find people who are going to foreclosure.