Most of our customers need the money. 

They are two separate metrics that paint a different perspective on the same picture and then you can make a better decision.

In my market the assessed value is usually the price that is anchored in my customers minds.

Looking through the pictures, these 4 homes all look similar to the one for $110,000, but are in better condition, albeit with cheap appliances/finishes.So, based off of this info, assuming I would put in nice (but appropriate for the area) finishes on this house, would it be a reasonable assumption to assume I could list for $160 and close for $155,000?

Simply providing timely updates and pictures of how things are coming along.If you are planning to, or if the borrower wants you to take a more active role then getting a split of the profits makes more sense. 

Once the originator can see the full picture, they can advise if it would be advisable for you to apply sole and separate.

It sounds like a lot if you think of it as a percentage but in the bigger picture it's not.

If they don't take a picture or mention it, the lender will never know. 

Of course, the picture is static, so it captured the values I had input when I took the screen shot.  

I'll use some numbers since that might help paint the picture.