If it is $250k then subtract the $45k leaving $205k divided by 2=$102,500 equity each.

Don't forget to subtract selling costs, transfer tax, and interest payments to arrive at your "true" profit.

You can subtract the amount of the debt from the net sale and only purchase that much. 

I have a private money lender questionnaire that I was able to put together but thought it would be a great idea as a finishing touch from the great minds of the biggerpockets community to give me some input on what to add or subtract from the these questions.

To calculate that you take the pre Harvey ARV and subtract 8%-12% and now you have the post Harvey ARV. 

I cannot subtract the K-1 taxable earnings from my cash earnings since they are both taxable earnings.Thus, for my first year estimate, it's not: $8,000 - $5,000 = $3.000 but rather something more like:Cash: $8,000K-1: $5,000Total: $12,00030% tax: $3,600Net: $4,400Another way to look at this, then, might be to say that the $5,000 K-1 earnings is reducing my cash earnings by ($5,000 * .3) = $1,500. 

I was thinking can that entity for example be a Series LLC where each series is tied to 1 property and i would be able to add or subtract properties as needed? 

It doesn't matter that the rents aren't showing up on you last tax return, they will just take your gross rents from your leases and subtract 25% as a vacancy / maintenance factor and then subtract the new mortgage PITI from the remaining number.

Subtract rehab costs from ARV, then multiple times 70%.

Then you need to put $200,000 of repairs, so subtract 200,000 from 420,000 and you get $220,000.This is the max amount you could offer on the property to get your cash back out, and you're not even factoring in closing costs and holding costs.