I have one written down and think its quite decent.Is there any set formula that someone can provide as to how to compose the sentences?

Or some formula based on NOI and book value for the property? 

I’m a relative newbie, cap rate has been one metric that I have spent a bit of time learning, partly because of the various definitions of it and the occasional misconceptions surrounding it.The formula I see all the time is Cap Rate = NOI/(Purchase or Value) which does not include leverage.

Here is what I was looking at for the breakdown.Purchase price - 153,000.00 Financing - 122,400.00 at 4.5% for 30 years = 620.00 per month20% Down payment (HELOC) - 30,600.00 at 5% for 10 years = 325.00 per monthRent (Quick look) - 1,200.00 per monthTaxes - (On the website it says 630.00 but on the county website it has a formula with [Tax assessment value x Assessment rate (currently 7.96%) x Mill levy (last year was .088) which turns out to be 153,000 x .0796 x .088 = 1071.73 per year.] 1071.73 / 12 months = 89.31Insurance - (Quick Google search for average) 106.00 per monthVacancy Allowance - (Reading BP says factor 5%-15% so I am going with 10%) 120.00 per monthRepair Allowance - (Reading BP says factor 5%-15% so I am going with 10%) 120.00 per month Capital Expenditures - (Reading BP says factor 5%-15% so I am going with 10%) 120.00 per monthProperty Management - (Usually around 8%-12% so I am going with 10%) 120.00 per monthIn this I am assuming that the tenant pays all utilities and yard maintenance so that isn't factored in.So.... 89.31+106.00+120.00+120.00+120.00+120.00= 675.31 Total So all that added up is....620.00+325.00+675.31= 1620.31 per month420.31 over the 1200.00 rent I know the deal won't work on this one I am just looking at my math to make sure I am factoring everything and just trying to start practicing.

To be honest, I don't use formulas.

Also if anyone has any spreadsheets or formulas they use that would be helpful!

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.

Can anyone share/recommend an estimating formula or technique for calculating new construction costs?

The banks negotiate based on a formula. 

Flip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!