Raising for Value?

[Jonny1723]

Hello,

as i understand it, you can raise for value if you are putting in a percentage of the pot which is less than your pot equity ?

So if I have four to a flush (which i will hit about 35% of the time), and there are 4 in the pot with me, I am only putting 20% of the bets in the pot, yet my equity is 35% - I can raise here for value ?

Is this correct ?

If so, what If I am the first in the pot, and 3 of the 4 then fold ?
I've put 50% of the money in, but only have 35% equity ?

Have I made a mistake, and does this only apply if I'm in late position ?

Apologies if this is a dumb question.

Thanks.