equation???

[Derrick Sisney]

I am curious. I have read about "How do you know if a deal is a good deal". My questions is is there a particular EQUATION that you use to ensure that you WILL make a profit of some sort.
I am not wanting to rent out a home as I am just getting started. But I am wanting to wholesale.

EXAMPLE: I found a property that is an REO and is estimated $15K worth of rehabbing. It is selling for $20K but when Rehabbed COULD be worth around $60K (which is what similar houses in the area sell for).

Any help with this would be great. I want to ensure that this MAY be a good one to start with. Thanks in advance.