That said only offering list price seems extreme.It's hard to completely condemn the Realtors behavior without a little bit more info on the market, list price etc.on the surface though Realtor doesn't seem like they are doing well by their client.

On the surface it looks like the numbers might hold, but have you dug in and run the numbers?  

How is the surface of the shared parking area? 

The term "brokering contracts" has surfaced on here and I know the landscape for LO is evolving.

If it appraised for $350k, you could do the primary 80/10/10 and net ~$55k cash out to bring the underwater one CLOSE to swimming at the surface.

Surface read: if you're getting plenty of walkers, but no offers, I would guess the pictures aren't the problem (unless for some reason the pictures make it look better than it is - but I can't see that being the case if this is a properly done, recently completed flip.)How fast are offers typically coming in for your market?

Rent control on a surface level seems helpful and simple enough but really it  contributes to housing shortages, bubbles, and all sorts of political greed. 

Some sort of true water impermeable surface is best here which is why Mike and I both like a solid surface of some sort. 

For a 1800sf home, originally Id say 5k is high but add in the floor surface area and the age of the home, location, etc, and 5k sounds more reasonable.

looks like a pretty good deal on the surface.