the formula for finding the CAP is CAP=NOI/ Property value. so in other words it's like saying that if i buy this property at 1,000,000 i should, in return,  be able to get a 10% NOI return of 100,000.  

The formula to get that ratio is Net Operating Income  divide by debt service.

You should be basing the ARV off of the comps, and it sounds like comparable houses are actually selling for less than what he's asking.Just plug $210,000 into Matthew's formula, so $138,500.

We have a formula that tracks the potential rehab cost base on sq. ft.  

Take some time to get to know the formula and the underlying concept.

I don't know anyone who needs to hire someone to text prospects so you are a birddog until you prove your added value in the formula.

I am not saying many buyers necessary consider this formula or this is the only thing to consider when purchasing a property - it is an appraisal tool, to be certain, and is one way to look at the market prices.You should definitely be considering what Jon said. 

When you get the secret formula, you can start your own training program and charge people thousands of dollars to pick your brain.If you want someone to let you "shadow" them for free in your same geographical market, good luck?  

Any math formulas that are important to remember?

My only experience is from my dad who has a few buy and hold properties in Manhattan, NYC ... given all the "formulas" and stuff here, it would have been a horrible buy for him.