I'd love to tell you I have a formula for figuring out vacancy rates on the South Side of Chicago, but I don't :)I get slightly different numbers than you in terms of the overall picture, but I still like the investment.

I know that masons must use the correct formula for mortar on old buildings  (I don't see any bad repairs here).  

The actual formula to find out what your 2nd VA loan will be is too complicated to explain. 

Its all just formulas and you have to fill in the blanks, the rest will work itself out.  

Below are rough calculations I’ve done using excel formulas on an actual listing I found in the MLS. 

For flippers, the MAO Formula (70% * ARV minus Repairs) is the standard.

Using this formula and your $60K offer the expected ARV looks like $91,700.  

Questions are bolded below: basically requesting calculations for payoff, NOD reinstatement amount and projected Notice of Sale amount or formula so I can calculate when I know the date of sale - in English please, not algebra equation please!)

Andrew (and other investors) is using the NOI formula for rentals:GSI - Expenses = NOIThe NOI is the cash flow and you already know that's -negative :gulp:  When done with ALL the numbers, your taxes and mortgage payments are within the Expenses.So 30yrs of -NOI + the appreciation(if any; it's not a sure bet) will likely be a loose-loose result with 30yrs of working for nothing to rent it out and maintain it.Not an investment I would choose.

I can picture myself walking through multiple properties and paying a decent chunk of change just to see if the property would fit the formula where the numbers work.