Pre 50 you should be able to do every flashpoint except the collicoid wargame because you would need more people to man the turrets and bulwark from directive 7. This is at legitimate level range, you shouldn't have to overlevel. My healer partner and I beat every other flashpoint when it was listed as yellow.
Once you get 50 and get vastly better gear you can try bulwark again.
That sounds fine for what we want to, at the level cap we would re-evaluate things but while leveling we find its easier to stick with each other.