@Hattie Dizmond - do you have a link to a spreadsheet you've used with this info and formulas completed?

You might be able to get it for a song at a tax sale.

Or is there a formula to blend the down payment received in Year 1 and the principal received each year thereafter over a 30 year period to calculate the capital gains. 

@Kelly AllenWhen you first start real estate investing it is confusingWhen I first started I had a teacherThis teacher was a business ownerMy job once I was trained was to talk to Home sellers about cash or terms offersI used a simple document called a letter of intent to lease or purchaseYou can't make any money wholesaling unless you get it cheap enough so that's the "cash" partThe formula is 65% times after repair value minus expenses for repairsHaving a few cash buyers already is very helpful.

Hi - I have gotten fairly comfortable with the basic Investor MAO formula of 70% of ARV-repairs.However, I know there is another model of acquiring investment grade properties which is to take over the sellers mortgage.  

But, that reminds me...have you ever heard the song Pound Sign?  

It doesn't seem to have a pro forma with easy to calculate numbers but rather has been analyzed with a spreadsheet formula.

You still calculate a CAP rate, and cost per door, and NOI in the same formulas as any other place.BUT?

Really though its good to look at a lot of deals until you get a grasp on it but unless there is a reason you are in love with it or you get it for a song, there are better opportunities out there.

Spend some time here on BP looking up MAO formulas.