@Steve Cunningham, For your primary it is original purchase price plus whatever capital improvements you made subtracted from the net sales price. 

It would free up ~150/month in cash flow, but I'd subtract the opportunity costs of the cash.  

Some of the cost of that knowledge will be subtracted from you

Then I take the calculated holding cost (insurance, taxes, utilities, etc), rehab cost, and transaction cost (closing cost, sales commission on flips, etc) and subtract from the ARV x .70 number.

If you're still not confident subtract 10%. 

@Kumar Gaurav For a refinance you can get loan up whatever ltv they offer for an owner occupied duplex, maybe 80-90% of current value.....subtract your current loan balance and closing costs....that is the cash you would get in hand.But, it makes no sense to refi if you are going to sell soon....you’ll get All the equity when you sell, with no refinance costs.

And how much do you subtract from the rent if in the future you look toward separate utilities on an estimate, or is that something you look at the financials for?

Add up the remaining liens that may be on the title from the utilities, state taxes etc. and subtract that from your final bid. 

A recent tenant is threatening to sue me over only $400 of the deposit that I didn't return (water damage to hardwood floors from windows being left open), I generously covered 2/3rd of the cost of the repair and only subtracted $400 from deposit.

My primary expense is mortgage taxes and insurance, Since that is added to my numerator (debt) wouldn’t it be foolish for it to subtract from my denominator (rental income) as well?