I've plugged in the new number you gave me for taxes which is 475 per month (wow) to my formula and my numbers are as follows. 

Unless the current owner pulls out statements showing their balance to you and/or unless the trustee has published the bid amount (Which is usually the total debt owed or a formula of the total debt owed), you won't know what's owed.

Here is the formula to extreme success.1.

Great opportunity to have more cash in hand and invest in bigger projects but is there a formula to follow?

When you wholesale someone a deal you are selling it to an end user who will either flip it or hold it and either way they will have a formula or some numbers behind there logic.  

There is an old tried and true formula that the wiz kids and their calculators never seem to choose.

@Christie Macias - Unfortunately, there's no secret formula that I know of. 

This makes a great formula for being a landlord.The current tenants are out tomorrow. 

Larger apartments are valued by the formula NOI / Cap rate. 

There's no such thing as a blanket, one-size-fits-all formula to use to calculate what's reasonable for S Corp shareholder salaries. 50% doesn't always work.