Your formula(if I can call it that) looks good.

"I Lost On Jeopardy" was the theme song of my you: "You don't get to come back tomorrow!

I will live in one of them and get FHA loan.Is there a formula or rule of thumb I need to follow to make sure it’s a good purchase based on the monthly payment I’ll be paying out for mortgage, insurance, & taxes.

The difference due to the different formula that are being used.

Savannah,Zillow and realtor.com use an automated formula to calculate the value that can be significantly off. 

But more importantly, tell me if I need to add or change my formula in analyzing a deal.

I took that number to determine my offer and calculated .65 x 46650 =30322.50 (didn't subtract repairs as seller stated everything was up to date) but is that the correct formula to use to figure out how much property could sell for?

Sellers, lenders, property managers, etc. will love dealing with you because you are a pleasure to deal with.It's really a simple formula but very few people actually do it. 

Karen, I won't be attending but I can recommend a tip that could save you thousands of dollars: Leave your credit cards at home.Most of the free / low cost seminars give you a few crumbs of information but are mainly sales presentations designed to "upsell" you on more expensive "boot camps" and/or "mentoring programs".They all follow the same classic sales formula, they'll tell you that it normally costs $X (you can even go on their website and see that price) but "today only" or "only for the first N people to sign up" they're putting on a special deal.They'll do the whole "this is how much it would cost individually but here's an incredible package deal" etc.

My reading and a fellow investor taught me that it starts with understanding the 70% Rule which is a quick rule of thumb that can be used to quickly analyze a rehab deal or wholesale deal by applying a 30% discount to the ARV (less repairs).70% Rule FormulaQuick analysis assumes profit and fixed cost will make up 30% of ARV(ARV * 70%) - Repairs = Rehabber’s MPPDetailed analysis breaks the 15% into a detailed itemized list...ARV - Repairs - Purchase Costs - Holding Costs - Selling Costs - Profit = Rehabber’s MPPThen, in order to determine Wholesalers Maximum Allowable Offer you would use the following formula:MAO = Rehabber's MPP - Wholesale ProfitWhat I need to be able to do is use the Max Purchase Price formula (detailed analysis) in order to calculate a more accurate MPP.