Gary Keller's Book, "The Millionaire Real Estate Investor" gets down to the statistical nitty-gritty in the second half of the book. In part one (see my first post on this at MREI -Part 1 ) he talks about reprogramming your financial thinking and habits to jump into the millionaire way of justifying spending -or not- on an investment . The second part presents the models and charts and worksheets to fill out and study.
One worksheet is for Buy & Sell which we normally call flipping a property. His advice for using this strategy is to build up your cash reserve.
The Buy & Sell worksheet categories to help you analyze the transaction are the Cost of purchasing = home inspections. Cost of repair = both minor and major. Carrying Costs = debt service, taxes and insurance. Cost of Sale = agent commissions and title insurance. The bottom line will show the amount of the total investment from the expenses of buying the property to flipping it.
Another worksheet and the core reason he wrote this book is called Buy & Hold. This strategy is to bring you maximum equity and personal net worth.
The Buy & Hold worksheet has the Cost of purchasing and Cost of repair categories just as the Buy & Sell. Additionally, a Net Operating Income section = rents, vacancy cost, utilities, taxes & insurance. A Principal & Interest section = comparing a 30-year loan to a 15-year loan. The bottom line will show you the monthly Cash Flow you can expect . That figure will help you determine if it's financially feasible to purchase and rent it or not.
This worksheet and ALL the worksheets in the book can be downloaded from www.kellerink.com . 
If you are a real estate investor, this book can help you eliminate the risk involved. He has formulas and models to follow so you're not reinventing the wheel while evaluating a property.
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