The golden formula is 70% of ARV less estimated repair costs. 

There are several important aspects of the wealth building formula, but the two most important are (1) expanding your income and your income streams and (2) decreasing expenses.

According to my formula, the "ARV" for subject property is displayed but problem it's based on "comps" and these aren't exactly. 

Working out set in stone criteria and formulas is one of the things that I need to focus on. 

Their formula can be tough to deal with because they hold on to quite a bit of funds but I guess that is part of how they keep their costs down and holdOn to hundreds of doors one months security.

He agreed real estate investing was a good idea, but gave me no formulas or other advice.

A week ago I attended the flipping formula workshop.

Follow this formula: (Buy house cheap) + (Cost to renovate house to be worth more than you bought for) + (Sell to someone who will pay that) = Profit * Repeat 

If they even dare to tell you they did some stupid formula like X amount of dollars/square ft, bish slap him/her 3 times call him "Shirley" and bish slap him 3 more times.5) Ask him if an agent walked the place5a) If yes ask him/her for the comps5b) if no, see 4b)6) Run the numbers again, 7) ask him how many deals they have wholesaled and if they can give you the reference of the buyer (this may be tricky)The reasoning behind this is, if the previous buyer is a repeat customer, good thoughts!

Thanks Mike for taking a look at the deal and since then I have made some changes as my cap rate formula was wrong.