Once you have a good feeling for it, you can use shortcuts like a percentage based calculation.A lender will not mandate your replacement reserves unless you're working on a large commercial deal.

You can't haphazardly jump into this arena. 

It involves a combination of cost to get in, profits made when you exit (through flipping or holding), based on groups of common (apples to apples) properties within a short distance of eachother that establish end value, list prices available, costs in addition to purchase price (like rehab), and the big one...what all of this establishes as your potential profit.It appears as though what you are looking for is a quick method (short cut) to find a market to invest in so you can close within 90 days. 

This is a very difficult thing to do and there is no short cut. 

Not at present, we are just trying to make sure we are on solid legal footing before taking, haphazardly going without having our contracts vetted.   

Need to verify specifics but was just told about this pocket listing & here's what I know so far:For Sale 200 acre development for only $250K; has 130 lots (~20 lots are already developed with houses); lot size is from 0.75-1.5 acres; in Phase I of development (roads for about 40 homes are graded & graveled with electrical buried), rest of land has not been touched; owner is currently selling individual  lots from $15K - $25K (generally more expensive lots have a well & septic, cheaper lots don't); manufactured or stick-built homes allowed; restrictive covenants attached (waiting for document).Location is in a rural area in the SW; local economy is based on transportation, agriculture, energy, retirement & tourism; 3 miles from a major interstate highway; on a major shortcut between 2 interstate highways; 10 mile radius population is ~ 20K; closest city with over 100K is only 1 hour away; cost of living & living expenses are definitely on the low end, great for retirees and the cheaper than average labor.Quick overview & simple math tells me that only selling 90% of the lots at the low end of $15K is just about $1.5 million.

There is no shortcut to success. 

It was the proverbial pandoras box of code violations & 30+ years of short cut repairs.

A wise investor will not try to get rich quick with shortcuts.

I am wanting to be success for this so no short cuts.