Subtract your existing mortgage from that limit and that's what you have left to spend with zero down payment.

NOI is calculated by subtracting income from your expenses.

Well some would say you take 70% of the ARV ( $140k ) which is $98k and then subtract the repairs of $20k and you need to get this for somewhere in the realm of $78k.

Your basis is the actual money you have in to the property to get it rent ready and maintain it, subtracted from the value of the property when you liquidate.

To determine cash flow I always subtract the following from my Gross monthly income: Insurance, vacancy, maintenance, mortgage, management, taxes, utilities, capex.  

My basic rule of thumb I give to wholesalers is if they can figure out what the market sale price will be when the home is fixed up, subtract around $45k and that is where I need to buy it. 

I would have structured the deal so that any work he did that you all would have otherwise had to pay for would be paid to him as an expense subtracted from the divided profit.

If you didn't find any then find out the ARV (sold comps for the a built house) and subtract the cost of building the property from ground up. 

Would it be safe to subtract the amount we would be saving in rent each month by living in the property?

Hey @Steve Uhlig, I'm not super experienced but I vet BRRRR deals using 70-75% of ARV and then subtract the cost of repairs.