I have been reading online and it looks like 7-10%. 

Komal Patel Hard to advice you on how to do estimates, but you could try online estimators something like these guys. http://exact-estimates.com/.

Make sure you have a minimum credit score and stated income-to-rent ratio (3-to-1).I'd propose requesting tenants to set up online auto-pay.

Need safe location.

Expecting to raise equity capital and to receive an ownership interest without experience and expertise to offer is just not realisticWith the advent of crowdfunding capital raises, on line offerings, and set fee legal, the cost of safe harbor Reg D offerings have dropped, considerably.  

(common in this area)Rounded a bit, this is $2283/month.IncomeUpper Unit = $1450 (realtor said a conservative estimate would be 15 but I think that this would be more accurate although it is not rented out yet.)Lower Unit = $1150 (leased for another 4 months)Total= 2600$Income-Expenses= $317To be safe I have always been told to have a security margin, usually 10% of the income in case of vacancies or other issues.$317-$260= $57Is this the correct way in analyzing this property?  

The standard purchase agreement does have this but depending on who is handling the REO, they will have their own paperwork so to be on the safe side you should have your agent include an addendum that states utilities must be turned on.

Of course I usually check SPOTCRIME dot com to make sure it's somewhat of a safe area.You can purchase as low as $30k and put in $15k and rent for 700/month.

Hi community,I am trying to start my wholesale business and one of the things I have no clear is where to go to get the required paperwork like a purchase/sale contract or assignment contract.Is this something I need to get from an attorney or itnks can be obtained online somewhere?

There is a litany of options online and I would like to avoid those that slant towards selling more programs, services...etc.