He has this idea of the perfect deal, He is still looking for that perfect deal that fits the formula that he came up with.

Personally we don't use that formula anymore. 

The price to rent ratio formula needs the "average" home value.

Is there a standard formula developers use to determine if the property works with these numbers Building Area2,000 Sq Ft (20 Ft 50 Ft)Residential2,000 Sq Ft - 2 ApartmentsPart basement1000 Sq FtGrand Total3,000 Sq FtConstructionBrickFacadeComposition AverageLand Use1 & 2 family buildingsLot Area1,800 Sq Ft (20 Ft 90 Ft )Building ClassB1ZoningR6Residential FAR2.43Facility FAR4.8FAR as built1.11Buildable4,374 Sq FtAir Rights2,376 Sq Ft

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@Anthony Butcher  Based off your numbers and the standard wholesaling formula, your maximum offer would be $127,500, including any of your fees ($325k * 70% - 100k rehab). 

Use the MAO formula to plug in the rough numbers and just make him an cash offer based on that.  

However, most people are understanding and if you come to them and show them the facts (i.e. hard numbers not just MAO formulas) they will be more willing to work with you because they know that when they send out a bad deal it just looks bad for them.Hope this helped if it did let me know or just vote it up.

I'm analyzing deals using several formulas found here on BP for rehabbing.

I am doing my research into this and wanting to know what you recommend as a great tool to stay on top of the rents, organizations, formulas etc.Ray