REOs have a specific formula they follow usually -- you're not going to get it for 35k when their asking price is 90k.

And that crazy 90% +repairs = blah blah...some HMLs will lend on that formula (and some will lend less than that). 

Do you increase based on some formula or is there a standard amount you'll increase by each year?

It is just a formula used by SOME members on BP.

Here's our formula that we used to make the above chart:MinimumGrossMonthlyIncomeRequired = ((MonthlyRent*.75) - MortgagePayment - (HOA/12) - MonthlyUtilities - (PropertyTaxesDollar/12) - (PropertyInsuranceDollar/12))/-.5Thanks in advance.

Also, I'm not sure how to determine pricing for things... would it be as simple as price per square foot to build or is it some other formula? 

The last part I’m working on right now in my studies is learning the formulas and running the numbers to ensure a good deal as well as how to draft the deal to present to lenders.

What i think is that this family had a family friend in the area of this house and this friend is an agent who has been helping out and sort of tryjng to find a buyer pre MLS listing but either doesnt have the listing signed yet or does and hasn't put it in MRIS... my MAIN concern since its not in MLS is ... will he present the offer because im coming in with investor pricing and  when i walked the property with him the other day,  he starts mentioning "guru formulas" investors use, etc etc..

Always determine your own property value "As-is" and "After Repaired".The standard formula is ARV times 70% - Repairs = MAO.MAO is the most you can sell it to a rehabber for. subtract your wholesale fee from the MAO and that is what you can offer the seller.

As far as insurance goes, I used a formula I obtained from BP forum; home value divided by 1000, multiply by 3.5...have no idea how they obtained this formula but it seemed to work out for my current insurance cost.