What are the risks involved with the "buy/fix/sell" strategy?

[Drew Dotson]

All investments carry a certain amount of risk. Some of the most common risks involved in a “buy/fix/sell” strategy are fluctuations in supply/demand of housing in the neighborhood, incorrect estimation of repair costs, project going over scheduled timeline, and general contractors walking off the job or stealing your money. All real estate investing is risky, but this particular strategy is one of the riskiest.