. , I have my secrets (including a secret formula for what price to pay to get my offer accepted vs. the other offers out there) (LOL).

Thanks so much I will definitely make my first move soon ...looking forward to the journey ahead and good luck to you all in your endeavors .

There is no one single formula for this stuff.

Hi all - I've put in a cash offer on this property: http://www.indexpost.com/property-for-sale/wyoming-cheyenne-82007-204-stanfield-ave/ for $75,000 using this formula: Max Purchase Price = Sales Price - Other Costs - Profit - Repair Costs MPP = $125,000 - $10,000 - $20,000 - $20,000 = $75000 All the details about the property are in this post: http://www.biggerpockets.com/forums/88/topics/124943-advice-on-mpp-for-rental-flip-in-2-years My buyers agent informed me that my offer was not the first one the bank was negotiating with, and after that negotiation failed, the bank has now come back to me and counteroffered at the current asking price of $104,900 (which they've just dropped $5,000 from $109,900).

If you are going to be serious about buying MLS-listed properties, go ahead and become a Realtor.

There are no books that are the complete formula but book did provide a sound basis of understanding, especially on the conditions that are necessary in order to make an informed investment decision. 

The case managers for the Section 8 program can be quite helpful and you will be helping them by giving them a "heads up" as they will be working with their client to secure a new housing arrangement for your tenant.

It will give you more knowledge about the business,more contacts in your area,and access to the MLS where you can find deals in the future.It would give you such a head start on your real estate career.Just a thought.

i am trying to wholesale some property so i didnt know if you may have a formula of some type or if you just had a contractor come in

In hindsight, I wish I had done more diligent screening of the current tenants and the situation beforehand, or otherwise negotiated the deal as the seller emptying the units ahead of time.