(Its a song)So you have training but no experience, is that correct?

The formula to find out what to pay for a property is this:Rent - Expenses - CF goal = Mortgage Payment. 

ive got a potential seller with an existing mortgage left over of 190k an the home arv is abt 310k how would i go about my offer price formula with the existing mortgage? 

The things you need are very formulaic, and most competent real estate attorneys can do these very cheaply, in the hopes that if you ever have a "more expensive" need, that you'll contact them for that, too.Congrats on getting up and rolling, and best of luck!

With a formula and stringent due diligence these types of real estate purchases are very profitable.

I currently manually enter into excel with a spreadsheet I made (formulas etc...). 

Texas is a tough market, I looked at Dallas and Houston as options for my group but those markets are super competitive and the houses on the MLS do not work in the BRRRR formula and the houses held by wholesalers have too high of a wholesale fee. 

Gen Z and Millennials call cars "Whips" and Gen -Xers like me will remember the song by DEVO, so how about "Whip it Good" with whip in a racy font :)  Ok don't roast me, just a thought 

Your idea is a formula for disaster.

You basically go see the properties, use the formula:  ARV x 0.7 - improvement cost - assignment fee would be your offer.