There are formulas and spreadsheets used to back out into the valuation price of a property and this does include pro forma rates, but the current leases you hold that gain you rents NOW is the major factor in calculating a price value. 

My question is there a formula you use to determine rent in high-value areas (maybe 0.5% of value?)

Real Estate investing in Canada-Your Life Your Terms show-Lifestyle Housing Radio (if you can endure the intro song)That should provide more education than you can absorb in a year!

(House cost $145k with $60k in reno) I'm wondering if there's a formula for this. 

Both the secant method and the improved formula rely on initial guesses for IRR"!

I know the formulas for rental properties exist, but I haven't crunched numbers for real properties to see if I can buy them. 

can anybody share there list of what there is to know about note investing and how you can put that knowledge into an excel sheet for calculating all your numbers and formula's

because banks have a ton of fees and you're typically spending 5-9% on closing costs depending on where you live.There is no magic formula.

Hadn't been using the cap rate lately, but I had the formula accidentally locked on cash flow. it's changed to NOI now and calculates 6%. 

Here's an example of what I'm talking about:Purchase price: $10,000Rehab (everything new): $40,000Total "all in": $50,000 (fully financed, 15 year note, 5%)Rent: $650/month.If I apply my normal formulas to it....10% maintenance (-$65)10% management (-$65)Taxes and Insurance (-$70)5% CapEx (-$35)NOI: $415Less debt service (-$395)Profit: $20/month.We haven't factored in vacancy.These are real numbers I'm getting from some investors in my market.