ive got a potential seller with an existing mortgage left over of 190k an the home arv is abt 310k how would i go about my offer price formula with the existing mortgage? 

To me the $1500-$4000 a year delta between a 12% and up to 20% is not worth the risk of potentially losing a significant portion of my capital.

You will learn alot of lessons quickly, build wealth, and potentially lower your cost of living.

This could potentially reduce or eliminate your state tax liability on the property with a gain. 

There are a few good properties on the market that I feel have potential. - I have only ever purchased a turnkey property.

Consider factors like location, demand in the market, condition of the property, and potential rental income.

It shows the importance of vision and timing in real estate investments.Here are a few points to highlight and expand upon your experience:Identifying Opportunity: You've done an excellent job of seeing potential where others didn't, which is a crucial skill in real estate investing.

You have the potential to attract equally excellent or even superior tenants, thereby increasing overall revenue.

My thought process is that this would be an equity play but am worried that I would be handcuffing myself for future investments.Option 2 House Hack with Partner: My friend/ potential partner is looking to do the same thing.

You may also meet someone  that could be a potential business partner.