I really appreciate the help guys, unfortunately I still seem to have issues. When manually assigning an ip address I still cannot access the router. I uploaded the previous firmware through the Asus firmware restore utility, but now the router is cycling off and on repeatedly. This is very frustrating! What firmware version are you guys using?
One thing to note is I flashed tomato successfully..it's just going back to the Asus firmware I'm having issues with.
I had the same problem at first and I came across the fix by luck I suppose. When it keeps power cycling keep spamming 192.168.1.1 in the browser you should see the CFE Web server come up and when it does keep spam clicking Erase NVRAM. It that doesn't work you can try putting the router in recovery mode and instead of flashing the ASUS firmware login to 192.168.1.1 and you'll see the CFE web server and erase NVRAM from there.