And since you're not the first agent to come in and offer them advice on pricing its going to be very tough to come in at a lower price and have them agree since other agents have (for a lack of a better term) poisoned their mindset and given them unrealistic expectations. 

@Fernando Avila it really depends on what you define as "worth the price" if your expectations are unrealistic you won't find anything, however if you know that what you are looking for is attainable you should have no issues. 

Hey everyone,Quick question I was hoping some of you could give me input on:I'm looking at buying in a neighborhood and noticed a comp price on a similar home that was way out of the ballpark of being realistic. Most ...

Now, I'm not an unrealistic person and I know that not all formulas work the same for everyone, but I figure why not at least ask on BP to see if anyone has done this in the past and can offer some advice?

 $200K is unrealistic unless you are looking for a true fixer (serious fixer). 

Am I unrealistic in my expectations?

People who do not take the time to learn the ins and outs of any process have unrealistic expectations and that leads to their frustrations, 203k is no different.I have had several clients here in Connecticut that have purchased using a 203k loan, and from those experiences I highly recommend working with a realtor, lender, contractor, and lawyer/title company that have experience closing 203k deals.  

Many of these give sales pitches, gurus try to sell their products or mentoring programs, or someone tries to get you to invest in a REI Fund by a group of people pooling their money, for some REI and promising an unrealistic return.

Maybe you'll see >=10% on the proformas but many times those are with unrealistic assumptions and rough neighborhoods.

The problem with sellers who inherited properties is that they can either unrealistic about the value or they have to split the pot with other family members and can't go too low on the price.