Anna Nicole Smith has been peddling exclusive pics of her baby daughter to the tabs, says a source, and has used the cash to buy a house in the Bahamas.

“After she sold footage and photos of the birth to a TV show, she starting seeing that child as a cash cow,” says the insider. “Howard K. Stern [Smith’s lawyer and the man whom she claims is the father of the baby] takes the pictures and they sell them to the highest bidder.” The house in the Bahamas could help Smith maintain residency there, since she’s reportedly being booted from her current house in the island nation, where she’s been living — some say to avoid paternity testing.

The situation has Larry Birkhead — the photographer who says that he, not Stern, is the baby’s father — “outraged” and “disgusted.”

“I’m outraged that they’re trying to pimp my daughter,” Birkhead tells The Scoop. “If Anna wants to sell pictures of herself, that’s one thing, but to conveniently put my daughter in every single photo to up the ante is sick and disgusting. And what’s even more disgusting is that someone would buy them because they are financially assisting someone who’s stockpiling money in an attempt to keep my child from me.”