Is that realistic/reasonable?  

I make sure my clients offers are all legibly typed out, neat and easy to read, with realistic time lines based on the type of funding they have and due diligence they need to perform.  

That is, they agree with the seller that a house will sell at an unrealistic price because, well, they can do a better job of marketing than the realtor who insisted on a realistic price.

If the listing is on MLS then I would get an agent and have them run comps (CMA) and get there 3% fee which is paid by the seller If it's off market and they won't pay the realtor fee - You could pay a realtor $125 for a BPO (broker price opinion) to get a more realistic value.

I think 8% is more realistic.  

As we are about a year out of being ready for action, I am just starting to watch the neighborhoods and keep an eye on what things are realistically renting for on CL, and how high Multi Families are closing in this market.  

Is a cash offer well under asking price realistic or worth making?

The difference is banks in 2008 kept giving ridiculous loans that they are no longer giving, which by default creates a realistic limit to how high prices can go. 

For vacancy I was told by an investor friend to budget two months as a more realistic number.

I am mainly focused in flipping houses, because I find myself to be detail oriented, professional, punctual, realistic and love the idea of making something "new again."