I have 3 joint venture deals that were presented to me as netting 170% profits in 2 years. 

For flips, ensure the profit margin after all costs is at least 20%-25%.

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

Quote from @Conte Cuttino: Property is in C+ area but in a different School district that’s B-If I sale I’ll get 30k profit after 9 months.If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.

I would also urge you to make sure you fully understand how they operate , A-Z (from how they make their profit to how many doors they are managing). 

I didn’t have much money and needed to find a way to get in the game. 10 years later, I’ve got 29 SFR that profit 19k/month (not including things breaking or vacancies).

This means it can be very profitable if you buy at the right time, but can be brutal if you buy at a peak.

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

And are the deals profitable?

If I owe $350k mortgage and I take out $100,000 HELOC and spend it on say a 6 month CD,And then I sell the house for $700kI would only have $250k profit right?