Additionally, software for owners would provide ability to adjust pricing should they desire.

Be sure when running the numbers you allow for vacancy (I assume 10%) and maintenance (I start with $100/mo and adjust based on the age of the property).  

Should always follow the 70% Rule to attract investors.Asking Price = ARV (average of 3 or more comps) X .70 - Rehab CostsIf you're comparing to homes that have 2 baths, then you need to adjust your rehab costs to include what it would take to add a 2nd bath.

and then if you agree on the numbers and find that it's not what the seller claimed, you adjust the contract because at the end of the day you're dealing with a motivated seller. 

Jeffs insight did just make me adjust our offer amount and my partner and I greatly appreciate the time and effort you put into analyzing our deal.  

I saw the price reduction last week and made the adjustments on my end.

Comps mean nothing until you adjust their values to the subject property, and it doesn't mean the subject will fall in that range either.In this, you need cash!

Obviously you pay a premium, but even with that, and after adjusting for some of the rosy numbers these companies suggest, there still seem to be many with cap rates of 9-10% and COC return of 15-20%.

We will gauge the turnout and see if we need to adjust for the meeting next month.  

If you two do not have direct ownership, then generally you and your sister will have to recognize gain equal to the sales price of the property less the adjusted basis of the property and depending on the depreciation method rules you may have to reclassify some of those gains out of capital gain treatment.