We do it by providing the new buyers with peace of mind… brand new structures, brand new mechanicals, and brand new kitchen and bathrooms.

They may not have thought to negotiate a large discount on the purchase price by documenting/hiring property inspector/taking own photographs and presenting findings to listing agent and owner who had not walked the property in over 3 years.The 4 units that were rented were, $600, $700, $700 and $800, with both of the $700 units being 3 bed 1.5 bath at approx 1,100 sq ft. 

It's not a horrible investment play, leaving the basement unfinished, because you buy a house at a discount in a flood zone, but it rents are market because there is no downgrade to the tenant on the quality of the rental because it's in flood zone.

So far each flip that I’ve done we completely started from scratch in the kitchen and bathrooms.  

Like grandma/granndpa house...that needs bathrooms/kitchens/paint and flooring done to make it look modern. 

It is a lower quality finish than hard wood floors so it would reduce value of the home.Most your value increase comes from updated kitchens and bathrooms or adding living space.

(2 years) we replaced some ceil tiles, lacquered the living room floor, painted all rooms but the bathroom, and put in click-flooring in the laundry/bonus room.

Bedrooms & bathrooms increase a home's value.

In search of a contractor to remodel a bathroom in the Cedar Rapids,IA area. 

There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts