So you see - Cap Rate is great for comparing two properties - if they were bought all cash.But its very deceptive when used to indicate how much money is made.The ROI is the true measure of that.Thank you.

@William Hochstedler   William any anti skimming or pre foreclosure laws in Utah... ours are quite stringent in Or and WA.. if its a primary resi..  

Once you're in the business, you'll need some way of actually measuring your successes or failures.I'd start there.

I tell people who ask for my help to look at these numbers just as a starting point to begin a search. it helps to down-select from the many many properties you can find online.The real measure is: What do you want to accomplish?

So I checked it out and measured mine, and sure enough, theres about an extra 100 square feet.

This isn’t easy by any means but it will be 10X worse with the market going against you.Lastly, I would note that “default” is not the best measure many times.

IKEA sells countertops in one piece square slabs (for islands) and cut to measure for counter tops - that can be fit into the back of a Dodge Grand Caravan with the back seats removed. 

The front range of Colorado including the Fort Carson area has been a very hot market so appraisal timelines have been lengthened in general, but this is especially true with VA appraisals because the appraiser has to have special certifications to do a VA appraisal and the VA appraisal has more stringent standards than a conventional.

Got the termite treatment done with some help, carpets removed, bathroom demoed, measured for windows and doors, working on putting a complete bid package together for Home Depot (If you spend more than $1500, you can request them to give you a bid price which is usually a bit cheaper). 

Also, take photos of the house, measure the square footage,and send this  to all the guys interested in the job.