I wanted to follow up on this post in hopes that I can help my fellow newbies in the area.In search for answers to this "magic formula" to get leads, I have come across some very successful people in this industry and have heard different insights on what works and what doesn't. 

I immediately took a pictures and jotted down the address and looked it up on the tax assessor's website and see it was sold two years ago to "Daylight Capital LLC" which seems to be some investors..My question is, if in fact the home is owned by current investors, what are my chances of them wanting to sell the home at a low price, and what formula should I use to know my "starting" offer price?

They are probably pretty formulaic.

But everyone talks about the “formula” to make an offer to investors.

@David Song Thanks David.

For example property analysis in wholesaling , I know the formula is ARV x 70% - rehab cost - your fee = max offer.

The formula is simple and is as follows, 75% of gross rent - PITI = net rental income.If net rental income is positive its added to your total income and improves your purchasing power.If net rental income is negative then its considered a liability similar to a credit card or a car loan that you gotta qualify for.Some banks have "overlays," or additional requirements they place on top of borrowers when you have rapid acquisitions of multiple properties but by no means is 2 properties in one year considered "rapid," by most lenders, however 3-5 would be its an underwriter and case by case bank "call," to make. 

@David MoreheadWhile not a book, you may find a BiggerPockets primer I wrote helpful -- the 18 most important numbers to calculate for multifamily, and their formulas.

My question is how do you find figures for every feature, is there a formula for that. 

The following formula should help you as a wholesaler:70% of After Repair Value (ARV) - Repairs - Your Wholesale Fee = Your Offer PriceFinding people that are willing to sell their property at such a discount is the most difficult part, but if you can do it, the buyers will come from all over to buy it.