Listen to me and forget it unless you have so much money, you can't even give it away.
First, a house flip is where you buy a foreclosed house at an auction usually for a fraction of what is was worth and in theory, you give it an extreme makeover both inside and out, sell it and get a ton of money back in profit and go laughing all the way to the bank.
Let me tell you that rarely happens. We've flipped about 12 houses in the last 20 years where 5 were for two guys who were successful. The other 7 guys and gals eventually lost everything and it wasn't our fault. Of the two who have made it, one did at least 50% of the work himself if not more and easily put in 12 hour days. The other guy is a local professional flipper where he has to have anywhere between 5-7 houses under remodeling at the same time to generate enough income just for himself. Okay, that's up to 7 contracting crews at once.
The real issue is those investors from out of state who see the land values in Kansas City at least half, if not more, than where their area and WRONGLY ASSUME the labor and materials must also be less. Generally speaking, Menards, Home Depot, Lowe's and all the box stores all charge the same price for a 2x4 regardless of what state your in.
If you have a home built in the last 20 years and want your master bath completely made over, your probably starting looking costs are at least $6K. If your flipping a house that has two bathrooms, then you already know you will be spending at least $12K just on the two bathrooms. Then there is the kitchen, the plumbing, the electrical, the trees and landscaping and a long list.
The second biggest mistake I see is investors making over the home as if they were going to live in it. Wrong!!! You want the advice of a realtor who will probably tell you what colors to use and what the trend is selling now. Not that long ago the trend was stainless steel, granite everything and marble tile, etc, and that's just not always true anymore.
Simply put, the best investor will wisely get a home in a good neighborhood and plan on the first house as a break even learning experience.
We are careful who we flip a house for and of the 7 who didn't make it that I referred to earlier, 5 of them shorted us about $3K each because they ran out of money near the end.
Do not listen to the DIY flipping commercials. If it sounds to good to be true.........well, you know.