For example, you get the house under contract for $100K, you estimate the ARV based on after-rehab value comps at $210K, but you discover the house needs $90K in renovation.

Some components of the ETF could be doing great, while others are struggling.

I discovered Bigger Pockets online and knew this was a great choice to really help me move forward with my real estate investment plan.

You're beginning to discover your unfair advantages already!

LOLI honestly can't think of a better explanation than @Brandon Turner's good ol' site realestateinyourtwenties.com.See: http://realestateinyourtwenties.com/blog/cap-rates...A cap rate is a tool used to discover the value of an income producing investment property.

I actually stumbled across BiggerPockets looking for legal services to advise me on wholesaling properties, and started reading in the form and discover there is a whole wealth of knowledge here and decided to join.

During inspection it was discovered that the concrete slab in the garage had shifted almost 6" due to no perimeter drain being installed around the house.

I'm sure you've already discovered that BP is a wealth of information and a treasure to new and experienced real estate investors.

HahaYea, I definitely seem like I know a lot, but keep in mind I'm only 15, and that a great man named @Joshua Dorkin made this whole interaction and a huge component of my learning even possible on this site.

The single most under-appreciated component in most RE investor's portfolio.Extremely passive.