However, it seems to be one that is used with frequency  - but unsure of how it's received by flippers.I've recently been using the BP Wholesale Calculator which is far more in depth than the formula above and includes data such as closing costs, agent commission and holding fees.  

I imagine his course goes into the topic in more depth...

If you go to the Real Estate Investing Mastery podcast with Joe Mccall, listen to #116, Rick Ginn goes in depth about how many less hang-ups there are since tons of people don't leave voicemails.

We just sold a well-performing fourplex bought in the depths of the crash because A) we had our first childB) we moved C) the fourplex is now 20 minutes farther from where we live and any trip there is at least an hour round tripD) I'd rather spend that time with the babyE) the selling price was two years worth of cash flow higher than we expected it to be.

I am interested in that E-book also....I wonder if this is a topic that could be addressed in a Podcast or if there is a book that addresses this in-depth.

While today’s market offers plenty of opportunities in distressed properties, buyers must conduct in-depth due diligence to determine what a property is worth.

We can certainly assist you, @frank anstasia, @Timothy Trewin and any one else interested in the Bham market.If you or anyone else would like to discuss the Birmingham market in depth, PM me.

Rich dad changed my life, Biggerpockets has given me the medium to interact with those who had real estate investing change theirs and now I seek the same.You can find my goals in my profile listed in the goals section if you'd like to know more in depth but here they are: Hybrid Investing by selecting neglected, trashed properties, rehabbing to bring it up to market and renting it out to tenants for cash flow through creative financing, I'm interested with Seller Financing as a start. 

@Dev Horn  thanks for the more in-depth explanation, this is making even more sense now.  

I jumped into a comfortable depth and now I have loads of experience and feel comfortable jumping up to the next level (Which for me is Multi-family).I wish you all the best!