Please see link below:http://www.biggerpockets.com/blogs/4977/blog_posts/37109-dont-put-lipstick-on-a-pigI believe that investors should not overcapitalize on the rehab and only spend just enough $$$ to cater for the particular area class but then again don't cut costs on the invisible items that can help the tenants keep their other bills affordable.Thanks for reading and have a great day.

This isn't a lipstick on the ole pig flip.I think I'm good.

Also, don't bet on a one month turn around for your rehab unless it's just lipstick.

You want to be able to talk to their contractor (to see what they did), do reference checks on their contractor (to see if they have a reputation for quality), and assess the scope of work (did they put lipstick on a pig, or remedy some of the more critical issues an older dwelling would have). 

They just failed to disclose that the roofing company also told them that it needed replacing and repairs would be like 'put lipstick on a pig'.

This is way beyond the point of just putting lipstick on a pig. 

Did they lipstick it??

Your third chance is to buy it from the bank as a REO, or from an investor/flipper who bought it at auction, put some lipstick on it, and flip it for top dollars.Short sale is your best bet.

He finds the houses puts some lipstick on them and then sells them to Buy-and-Hold investors.

Beginners should start out on a no floor plan changes lipstick rehab.