If you are noticing that many investors are buying much higher than what you get using the formula, you will have to adjust it. 

And make adjustments for unique features and amenities by adding and subtracting.

People that enjoy their jobs are about 1% of the population, the smart ones out of the other 99% understand it's real purpose.You need an attitude adjustment if you want to be wealthy.

A year later, we converted the property to a duplex (we needed a minor variance from the Committee of Adjustment, got refused, and I successfully appealed to the OMB).The reno to convert to a duplex legally was $50,000.

Trusting your happiness meter has now been adjusted to reality.

I'm adjusting those late payments today.

My thinking is that doing a 1031 exchange would speed up the process a little.

There are many wholesalers that have done 10s, or 100s of deals illegally and have never been caught because the reality is that generally speaking most states don't actively crack down on such cases unless someone files a formal complaint, much like someone driving 5mph over the speed limit. 

If you are an investor, kindly PM me good references to home inspectors that I could talk to, line up and have on my speed dial so that I can reach out to them to do the inspection within the necessary 24 hours.

I got the house for $31800 with a 10% down payment so I still owe $28620 with an interest rate of 4.42% (that can be adjusted in 5 years), and a monthly payment of $179.90.