Many deals that I've evaluated would cash flow as-is, still have potential to increase rents, and leave sellers with capital gains if sold on actual NOI.

I will be sure to share my potential buys on BP to make sure I am not overpaying!

I want him to realize , he has the potential to do great BECAUSE of his sales accumen.

The price is a result of lots of potential buyers and the ones that feel the price is too high are not  buyers at this price.  

I've had a wonderful opportunity to go view many potential properties to flip and went to see some of the houses that the other agents' investors are in the process of rehabbing.

This obviously only addresses third party liability, and not recourse a lender might have.Two potential issues with LLCs are (1) how easy/difficult it would be to move the property into an LLC.  

Potential downfalls are that some lenders and future home buyers may see low funding as a risky purchase.

The best I can do is  $100 per square foot on roughly 4000 ft.²  1100  rents  on  400 K  cost  land between 50 and 100,000  with the potential to build 4.  

Give your estimate to potential buyers but be clear that it's their responsibility to practice their own due diligence.

This property seems like a great potential opportunity...