The problem with flipping a house is that it makes no sense to put quality materials.
I also think that people underestimate how much money it takes to upgrade and how much materials and labor costs have escalated.
The key is to put just enough money in so that you make maximum profit.
The house I mentioned in my OP dropped their price by $40,000 today. Where I live the soil is extremely sandy and irrigation systems are key for green grass, a majority of homes have an irrigation system. For some reason the system is not on, and the lawn is not in good shape. It’s also hot out and this home does not have air conditioning, something that most homes in our subdivision also have.
Most of my neighbors are convinced that this is a flip and a poorly done one at that. It’s not terrible but I don’t think you can effectively turn over a house in my area in 6 month. 6 years, maybe?