Long Island - First flip

[David Shulski]

Pulled the trigger and purchased my first house to fix up and sell.  I've done construction in the past, so I'm putting in a lot of sweat equity because I'm not that familiar with costs, and I'm just nervous.  I don't really hear people talk to much about finishing touches on here.  So i guess I'm looking for some advice on is how to do that.  What colors are most popular, should you put molding on the ceiling, should I wire the living room for surround sound, etc...  What really stands out to buyers.  Any advice from people who have done this would be much appreciated.

Details, if you're interested

Bought the house cash (personal funds) for $175k and at closing, the bank put up the first 11 months of real estate tax (short sale).  Not totally sure why, but I know I'll never get that lucky again.  It's a 3/1 that I'm converting to a 3/2.  Comps tend to go between 280-320 in the area.  Thanks for reading.