The worst scenarios happen when;  a new person hooks up with an agressive wholesaler agent (there's companies of such agents) they bring in their contractor who gives unrealistically low rehab costs,  then the ARV examples are not appropriate.  

I can forecast a 200% IRR and take that to market, but to achieve that return, my assumptions are likely unrealistic. 

I don't have unrealistic expectations and I'm not looking to get rich quick.

I have had this same scenario play out and a lot of people have unrealistic expectations.

Depending where the client is looking they may have unrealistic expectations as to what they can afford. 

You can wait it out, or you can lower your credit score criteria (maybe you set it unrealistically high, the property is in a low-income neighborhood) and re-evaluate everyone (again, in the same order), reach out to the candidates you rejected and ask them if they are still interested.

Yes, I'm well aware 100% financing is unrealistic.

Tax assessed value can often time give an unrealistic market value due to deferred appreciation and exempt status affecting any increase.

Also, given your unrealistic pricing, you are asking him to do all the heavy work and you make $7K?

Many owners have unrealistic expectations and get angry when their crappy overpriced property doesn't rent.