As a new agent I would focus on finding new prospects.

I’ve had it on my radar for a few years and cost vs revenue doesn’t line up.

Unfortunately he is still incarcerated pending an appeal on his case and I am not the professional real estate investor that he is.

And LP is burned if syndicator hedges and shops multiple groups who are interested and spending money on DD ultimately not get the deal.Reliance on single relationship: again, larger checks mean few LPs for syndicator.  

Purchase price: $100,000 Cash invested: $1,000 Sale price: $115,000 My partner and I found this property on Zillow listed much higher than the value.

I'm curious how many hosts update their listings depending on the season.

This all comes down to how you're structured, how the flip cost were accounted for, if there is a partner (you mentioned "we").If it is an S Corporation and you "distribute" or "sell" the property to yourself, if there is any loss on value, which probably there isn't, know it most likely won't be deductible if it's a related party transaction.  

Curious on your thoughts.

Any thoughts on Bloomfield, NJ or other towns that could appreciate well and have or lead to positive cash flow? 

Savan cool well it is good to start and when it is the first deal it is wiser to be cautious and not over extend one self on the payment and rehab costs.