Glad you found value the Worcester Simplified REI meetup that @Ian Hogan, @Sabrina Sanchez and I host once a month in Worcester.

My advice is make your job easy, find the tools or team to simplify every aspect of real estate you aren't looking to do.

I’m simplifying it a bit, but that’s the overview.

It simplifies things when you put all of your rent into that account and pay all of your business expenses from that account.

Steve,Not making it too complex or over simplifying things, there is much more that goes into it such as your budget, rate of return you are looking for, your ability to manage the rental and such.

Feel free to shoot me a DM/email (in signature).This packet seems more for a bigger project than a vanilla SFR flip, you can simplify this to make it more concise while saying the same thing..

For example (with simplified numbers):If you can buy a property for $50k, put $50k into, and end up with a property that will appraise for $150k, you should be able to refinance and pull all your money out.If you buy a property for $450k, put $50k into it, and end up with a property that appraises for $550k you won't be able to pull all your money out.

If the seller already has the plan approved, the valuation will be much easier.land price + construction cost + profit margin = estimated building value (ARV)This will simplify it as a flip model. 

There are many variables that make up the NOI but let's again simplify a bit. 

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.