This puts the seller in a much worse situation than they started, and this burns a lot of people.

Replacement cost approach: Used for things like insurance to determine how much insurance you need if for example the house burns down and needs to be re-built. 2.

Easier to get burned on remodel. 

Fat forward to today I have a good amount of money saved for repairs that I haven’t contributed to.

In Charlotte, NC and in Charleston, SC, we have such an extreme lack of inventory, especially at the lower end of affordability- seller's aren't giving up their 2.99% interest rate to downsize and pay more for a home with a higher rate, so they are staying on the sidelines. and Builders cannot ramp up fast enough, and are being very cautious due to interest rates, coupled with inflation, where their goods and services also cost more to build homes- and, after 2008-2010, where many got burned, and badly, they are super cautious.

Hope there isn't too much exposure but wouldn't surprise me if somebody ends up with a fat fine from the SEC after this.... 

I have not been burned yet by this.

@Dave Meyer @J Scott  - we've got a burning Real Estate by the Numbers question for one of you two!

What's the best way to get involve in it to get some experience without burning much money? 

Yes Ron has a referral program, but NO I am not signed up, and if you decide to, I get a big fat Nothing in return. haha.