Hello Family,While actively pursuing real estate investing and working towards the goal of flipping my first house by the end of the year, I took and FAILED the real estate exam in October and have hit sort of a "pity party" phase.

The old adage holds true - Failure to plan is planning to fail.  

After failing the final exam, I realized that most of the exam questions were exactly the same as in QBank.

What @Vincent Crane and @Rob Rice failed to understand is tear downs sell for $150+ in the neighborhood.  

Many contractors fail at the paperwork level, then the next fail is when they find out they get no money upfront for your job.

The concrete has failed.

Typically these are Sellers who have tried to sell their home and failed so they are in a sticky situation.

For example if i know i have a 20 year old water heater, I know that at some point this is going to fail.

This is tough area of discussion because if you run your REI as a charity you will soon fail and can't help anyone, and if you only do it only for the money you will tire and lose your motivation and also fail.  

You can't advise, counsel, claim you'll save them, or talk about any strategy to avoid foreclosure.If you do anything that makes an insured lender believe a property is being sold and they put off a sale, (generally they won't) and you fail to close, with them seeing your deal was some convoluted assignment deal, you have then interfered with the foreclosure process, a violation.Some states are judicial states, highly likely that owners with equity will have or have at least talked to an attorney.