I think @Bill F. is probably correct here, and simple equity position is probably the right answer.

I'll keep this short and simple.

I am so new that I don’t know if I would even comprehend what you were talking about anyway.My main concern is saving money for the next few months and learning as much as possible in the mean time.

It's actually quite simple when you break it down and you definitely want to understand every bit of this calculation before you start plugging numbers into any online calculator. 

I’m sure these are simple questions but I’d like to understand the fundamentals and achieve great things.

Each market and price point is different - this is just a simple formula to help fellow real estate investors think about ARV.

In some areas property taxes are simple and affordable while other areas, like Dayton, can be complex and expensive requiring close attention to avoid making a major mistake.

Any recommendations on where to find a form or simple letter is fine ?

Can anyone offer a simple breakdown of how it'll apply to my scenario? 

Move--it's that simple--move.