@Stef Martin if your intent is to scrape and rebuild, then you need to use comps that are new construction in the area to back into a value on the land by subtracting all of the costs to do the deal including your profit.

We first subtract 70% from the price of what the price of the home would be if it were completely renovated, then we subtract the cost of any repairs.

   $1.5MM25% Down would be $375KIt was suggested to me to speak with the owners (who I know - they are personal friends) about Owner Carry for $250K.Does this mean A) The $250K is subtracted from the original purchase price and therefore I would have to come up with 25% of $1.25MM  or..B) Out of the $375K down the owner would carry $250K and I would have to put $175K down on the deal ?

After you subtract rehab costs, carrying costs, closing costs etc - the average Net for a Fix & Flip after 6 months is $15,000.Are you willing to risk your home to try to beat those odds?

When trying to figure out the maximum square footage allowed, do I multiply the FAR by the lot size after having subtracted the required yard setbacks?

Subtract your existing mortgage from that limit and that's what you have left to spend with zero down payment.

NOI is calculated by subtracting income from your expenses.

Well some would say you take 70% of the ARV ( $140k ) which is $98k and then subtract the repairs of $20k and you need to get this for somewhere in the realm of $78k.

Your basis is the actual money you have in to the property to get it rent ready and maintain it, subtracted from the value of the property when you liquidate.

To determine cash flow I always subtract the following from my Gross monthly income: Insurance, vacancy, maintenance, mortgage, management, taxes, utilities, capex.