I was seeking knowledge on any other formulas or ways one could make an investment on such a property without fully having the funds to meet the minimum of a down payment etc. anything helps it’s going to be hard work but I know I can figure this out with help 

Take the deal to a title company and they do all the closing.To find out what you should ask for the property use this formula:(.65 * ARV) - rehab costs - your assignment fee = Maximum OfferDo some comps in the area to find the ARV, redfin is usually pretty good about finding them.

However, you do have 100% POHs so before you waste any more time on it, use this formula to test the value:20 x [monthly lot rent] + current rent on 3 buildings x 12 x .5 (to be conservative) = NOIDivide the NOI by the price he is asking.If the number you end up with is less than 10 then it's probably not going to work.

If you want to know your max purchase price formula it's: ARV x .7 - Cost of Rehab = Max OfferBut the overly dramatic example I gave (sorry... but it can turn real quickly) is why you have to know that cost of rehab with some degree of certainty, or else simply asking what percentage of 65k would make it a great deal is irrelevant. 

The formula is simple. 

Caveat emptorI don't think there is any set formula for you to use.  

@Steve Shaw the formula is usually you pay them less than what eviction would cost you - or whatever your cost might be with your scenario.

Like most new investors the cost of renovations is a highly sought after formula.

I have started doing the quick 50% rule of thumb formula (All Income x .5)- mortgage p&I and try to get a rough number to see if there is positive cash flow.I plan on using an FHA 3.5% down loan, and I know that you must intend to live in one of the units for one year, so I run the numbers for the cashflow for after moving out of the 1 year of living in one of the two units.

Is there a formula behind it?