You can make the value of just about anything that produces cash flow go up to nearly infinity if you assume a low enough discount rate ...

We are in NJ and because of sibling tensions also we need to stay hands off of the deal (otherwise we would flip it) But, I thought maybe someone here could give us some guidance on pricing and I could give you the address and realtor info if you are interested (PM me)It's a 3 br/1 bathroom/garage brick ranch on the north side of Hampton.

Keep in mind some things won't show themselves for awhile, a house usually gives up most of it's ghosts in a 1 year cycle, this allows it to go through the seasonal changes of moisture, expansion and contraction and tear itself apart where it needs to, tile floors will show cracked grout within a year, letting you know they weren't installed with proper underlayments, drywall will crack at doors and windows showing the house movement do to soil getting wet and drying out where it shouldn't, the basement will get wet showing you where the freeze thaw is effecting it, paint in bathrooms will show mold in a year showing you that the flipper didn't vent exhaust fans properly and the list will go on and on... 

A newer agent will probably have more time (and enthusiasm) for a newer investor, so don't discount them if they otherwise seem competent.  

When you sell the flip, you'll sell it through me at a pre-discounted commission.

It is 6 bedroom 3 bath rents for 3k a month and behind it is carriage house  that has been renovated and is 3 bedroom 2 bathroom.

Nice to know some lenders might do the same thing.Those 1-2 points, are they discount points or origination?  

Bummer, so now I am looking at a 6 bedroom 5 bathroom (2 full 3 half) Victorian home for 190k.

I don't think we would do a bathroom, it would require pumps for any water removal.I think maybe its best to leave it as with the suggestion that the buyer could convert it to their needs.

If you are a realtor taking clients around, you want a decent, comfortable and reliable car but not one that may appear "flashy".I remember many years ago when the realtor husband of a friend of mine bought a new E-class and took clients to a showing, they began wondering about his "fees" and started to ask for a discount.