Comment by heelix

The 'move in' appeal comes into play. While the land/location may be great - places with the lime green toilet and 70's shag carpet will require renovations to be considered current. The flippers are doing the work - usually the unusually dated bits - for less than what the buyers would think that remodeling would cost. (and they are often correct) That delta is why flippers can make it work. At a certain price point, folks expect a house to be finished.

We picked up a house that needed updates. A few miles from work (were I to drive in) and on a lake. When we looked at the house, it showed terribly. We had replaced our bathrooms and a few other 'major' things in our previous house, so what might scare some folks is a few hundred to a few thousand at home depot and some possibly long weekends. Chunk by chunk, we've been making the house the way we want it.

I should be doing some drywall this long weekend. Way to dang cold to go out and pick up supplies.