Be sure to check out other areas like the blogs and podcasts.

I learned a lot from that whole deal and plan to be wiser about my real estate investing moving forward.I have since had the privilege of gaining national media attention for paying off $52,000 in debt in 18 months through my blog called Well Kept Wallet.

I wrote a blog recently on two ways to stand out that might be helpful for you:http://www.biggerpockets.com/blogs/4430-the-joe-fairless-blogLots of good resources on BP and a great community to learn from.

Get a good estimate of what it should cost to make all the repairs, deduct that figure plus maybe 10 -15% more as a "buffer" in case you discover it's worse than you thought and present this to the seller.If your seller is intelligent and motivated to sell, and you present them with the facts, and a well written proposal detailing the costs involved to get the house into the condition that you thought it was in when you made your offer, chances are they will understand.

Look up Sharon Vornholt here on BP, go to her blog and read and learn.

After visiting the property I discovered TWO additional 1 bedroom units in the basement that were not in the listing!

Maybe this article I wrote may help as well:http://www.intendhomes.com/blog/make-money-from-real-estate-top-8-features-of-a-profitable-rental-property

We've got a ton of great posts on the topic on the BiggerPockets Blog, and our podcast covers this as well.

So, during the attorney approval period, we get copies of the paperwork and discover the discrepancy.How much were they underestimated?

Welcome to BP @David Hill For general advice check out the blogs, podcasts, Ultimate beginners guide and forum.