New at Flipping Houses

[Chelsea Gatewood]

I've been watching dozens of videos and reading articles on how to flip houses.  From there I'm creating a google docs where I piece together all the points so I have a better understanding of how it all works.  The purpose of the google docs will be to share it with anyone looking for the comprehensive set of information of how to flip a house and for my own personal understanding.  

So far I've taken notes on defining your target market, what questions to answer about that area, the types of flips there are in 3 basic categories, financing options, how to farm for leads, renovations to consider, what type of contractor to look for, how to find them, and how to properly communicate with them.  

This google docs or "help guide" is far from complete.  I'm going to be editing it for at least the rest of this year before I shift my focus onto something else entirely. 

All that being said, what other steps are there in flipping a house that people might overlook?  Is there a standard of what certain renovations would cost or does it vary location to location?  Like is flooring typically  $"X" all the time or does it drastically fluctuate? In general, what else should I include in this guide?

My Location: Greensboro, NC. 

Note: My goal isn't to have a house flipping business.  I'm genuinely interested in the process and would like to help new investors as a real estate agent. I would consider doing a live and flip though!