As an investment, I would never consider a property that brings in only 7% of the purchase price.

You can also check their reviews online at Google, Facebook, or Yelp.

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

I am a rookie investor and have not purchased a property yet.Thank you in advance.

In my area specifically most investment type property listings are properties that were purchased 1 to 2 years ago.

A seller can not sign away his rights in a purchase or any other document.

Purchase price: $115 Cash invested: $17,000 This is my first fix and flip.

Numbers are the following - purchase price $120,000, rehab $75,000, ARV $250-265,000.

I'm researching more because we had hoped to eventually purchase the space. 

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.