My question is to people who has flipped houses or know how it works, assuiming I get a house that needs some work in order to make money and resell i have to renovate it nicely but I dont have any skills nor knowledge how to do remodel and I would have to get contractors to do it for me and they are not cheap at that point i would get contractors to do everything and will i make any profit after selling the hosue? 

Don,  great points as usual from my cheap seats what I see coming down the pike and have personally experienced over the years in Sub to is this new crop of Guru pitching this form of acquiring real estate..

I target cheap C+ class homes because turnovers amongst this class of tenants is almost zero, and the profits are much higher.

Copper is expensive, you want to use pex (and make sure they don't buy the cheap stuff from the big box store).

And I noticed that many of the unfurnished units were offered with a month to month lease... the kids would get cheap furniture that they didn't care about tearing up and giving away when they were done.

@Daniel Stevens Flint really has nothing positive going for it these days and Burton is rural - hence the cheap prices!

Just don't get cheap Craigslist contractors that are unlicensed and uninsured!

This doesnt mean DSCRs are inferior products; theyre great for what theyre meant for, which is relatively cheap, permanent financing for real estate without having to jump through the hoops of a Conventional loan. 

Every market is different, but in New Orleans there are two types of guests: 1)  Guests looking for a dirt cheap place to stay and don't care where it is, but will complain about the tiniest little things, when in most cases the Airbnb is much nicer than their own home.2)  Guests looking for a unique stay in a real neighborhood (how Airbnb started, until investors of faceless LLCs started to gobble up and change the fabric of these neighborhoods).

Just because the neighbor is a slumlord doesn't mean you should be too.Submeters are too cheap for you to have any excuse.