I've come to the conclusion that the majority of people in this area are looking for that easy flip... get in... put some lipstick on the pig and get out!

After that, we'll pay for someone else to do the "Lipstick" remodel which is why we think our plan will take more than 60 days.This is all assuming that we even get the house which is no guarantee.Thanks Greg H.

Their unethical business practices - like putting lipstick on a pig and passing it for turnkey - have finally caught up with them.

The roof and HVAC were fine, despite the way it looks, this was simple lipstick rehab.What was the outcome?

@David Rutledge There are a number of different definitions for turnkey, but to me it involves a full service where the provider acquires a property (usually distressed), fully rehabs it to a high standard (no lipstick on a pig), leases the property and manages it.  

It's hard to hire out a lipstick rehab for $9500 - just doing paint and flooring using people that get paid will cost more than that in most places for any rental that isn't tiny.

Any rental that has to have "offset ordinary income" lipstick is a crummy rental, at least on a cash flow basis.And, no, I don't think the IRS tolerates any inflation (i.e., lying) about the RE professional hours.

I just had an offer accepted on a second property for $50k that really only needs lipstick to achieve optimal rents.

If you haven't flipped before, even a lipstick flip out of state can be a disaster.

In Scottsdale most houses can't really be flipped profitably say by just adding some lipstick now.