I made an 'income statement' for the property and came up with the following #'s; Effective Gross Income = $29,760 ($32,400 + $600 in coin laundry less 10% vacancy allowance) Total Operating/Fixed Expenses = $13,737 ($3987 in property taxes AFTER renos and at an assumption of a new assessed value of $300k- used formula on city website to calculate this #) ($4464 for reserves and replacements (15%)) ($1786 in management fees (used conservative 6%, but I would be doing this, not another company.

We are looking for others to join a lawsuit against Success Path, Flipping Formula and other companies involved in taking millions from people promising things they never deliver.

. - find a formula that works for you and start making offers.  

Thats great info to keep in mind when I consider this strategy/formula.

Is there a formula you would recommend?

Also, if I do find a buyer, is there a formula in the industry for the finders fee part?

A simple formula formula for determining cash flow is to subtract the mortgage payment (with 100% financing) from 1/2 of the gross rent.

The coupon has a spot for old reading, new reading, resulting usage, and some table or formula to convert usage into dollar amount due. 

Anyway, Reifax won’t do your due diligence for you, but it can give you a quick excel spreadsheet of properties broken down by zip areas to start you on you on your way and is good on comps using the standard formula: ( FixedUpFairMarketValue minus repair costs etc ). 

What is the best formula/plan for approaching investors?