I'm thrilled to see the formula working for you.

I did not go to University and study Business and Finance or get an MBA and I don't know all the different formulas that go into the Study of what makes a good Rental Deal.

What formula have most used and had good success with?

With a conventional loan, 20% down, at 5-7% interest, with my repairs taken into account, and 10%vacancy rate, my formula spits out a Cash ROI of 17-20% (J Scott SFH Rental analysis). 

Once you have the right formulas, you just have to enter the above information, and below will be created automatically. 

, bite the bullet and get an accounting software package - - at least you can generate reports correctly and start to see that you may have entered data in the wrong places.Excel can do the job - - If you aced Accounting 101 AND master all those formulas and cell referencing technique.Upon install, run the Wizard and pick Real Estate or Rentals to setup the accounts for you. 

If he has a limited amount he wants to invest, you might want to utilize this strategy and work these numbers into your formula so you can achieve your 10% faster and so that your partnership will have more capital to grow faster/bigger. 

Using the standard 70% ARV formula, $340k * 70% less 100k rehab = $138k max purchase price.

A new lender to an inexperienced borrower is nothing more than the blind leading the blind and could be a formula for disaster.

You can find 3-6 comparable properties (nearby) sold no more than 90 days prior.70% of After Repair Value - Repair cost = max offer price Livable - $25x sqft Not livable - $40xsqft The above formula is usually how I calculate rehab costs and after repair values!