How do you formulate this lease?

See then if you can formulate a more precise plan for building longterm wealth.

You might review some of the podcasts which might help you in formulating your plans.

Once you formulate the details, you'll be better equipped to make final decisions.   

Cambell's machine and have not personally read this book).Either of these books should provide you with a sufficient base to be able to formulate appropriate questions when you find an accountant and attorney with cross boarder business and real estate experience.  

I ask because while I'm interested in the lure of the flip, as a business owner myself and the time that requires, I'm formulating my real estate plan and flips are low on the list, again this is totally personal.

Then,  I formulate the formula for getting a offer on the house.

It has helped me formulate additional questions that I need answers to and with any luck, I will have those answers in the coming week.

(Ultimate Goal)Goals will change and adjust based on circumstance and perhaps it's wishful thinking, but I'd like to start with the end goal -both short and long term- already in mind and formulate the plan to get there.

This is where your due diligence comes in--study the market and his assumptions and formulate an opinion on whether you think that the IRR will be achieved.