Thank you for commenting, your thought process makes complete sense plus you know your boundaries and you stick to the formula that has made you successful, I like it. 

What is the formula you use to run your numbers on a flip? 

Here is how I do it:http://www.biggerpockets.com/renewsblog/2010/03/10...To use the formula, you need to be able to accurately estimate ARV:http://beta.biggerpockets.com/forums/311/topics/73...You need to be able to estimate Fixed Costs:http://www.biggerpockets.com/renewsblog/2010/03/17...You need to be able to estimate rehab costs:http://www.biggerpockets.com/flippingbookAnd you need to determine your desired profits...I strive for 15% of resale value with a minimum of $15K (for lower priced projects).

If you had maintained this strategy for the last 3 years (2015: 1.4%, 2016: 1.1%) your tenant would have seen nominal increases in his rent all tied to a fixed formula and you would now be poised to increase his rent from roughly $2410 to $2475.

If we call investing at 10% the opportunity return and paying the mortgage (5%) real return, due to the time value of money formula having five variables (Present Value, Future Value, rate, number of periods, and payment) the ratio of opportunity to true return cannot stay constant at 2:1.

I see many on here who don't have much experience and are just getting out of school who are sold on the formula and are jumping into debt quickly. 

It would probably be more advantageous to just reach out to EXPIRED listings rather than MLS listings.You can certainly still follow that formula but most of us use some type of wholesaler. 

@Timur Salikov stick with the simple formula: buy where the Tourists/Travelers are.

Is there a formula?

What is correct formula to wholesale a house?