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Honestly, for all I know, I may have been one of the inventors of the term "home flip" that is now in an over abundant vernacular use.
I bought my first home to renovate and resell in 1966, and not including the plumbing, electrical or floor coverings, my wife, brother and I did all of the remodeling work.
We didn't make but about a grand when all was over, but we worked hard, and initiated those lessons learned in the sequential seventy or so renovations that followed.  Some we kept and rented, but the majority we sold.
It provided a good supplemental income for an accountant, a school teacher, and a real estate licensed broker - savings and loan vice president.
Home flipping has taken on a dangerous complexion in recent years, and we should be concerned about it.
Real estate professionals, like attorneys and CPAs, are licensed by the state in which we pactice, not for our particular benefit, but to protect the public from those who would otherwise be unknowing and/or unethical law breakers.
On top of those licenses, all three of those professions have an even higher bar.  They have created professional organizations that ... more

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