Most Buyers first thought, when they hear the term "flip", is of poorly renovated properties where everything is just covered up to look nice, but the quality is lacking, ("lipstick on a pig"). 

Unfortunately, we regularly see beginner investors on the forums with nightmare scenario properties (non-paying tenants, crime, property destruction, and MIA PMs), and their story is almost always the same: it was their first property, and they bought OOS because the cashflow was great (on paper), and "it looked great in the photos", but the property was a lipsticked pig rehab in a C or D neighborhood, and they learned the hard way that PMs have no incentive to put in the significant effort required to manage in a C or D area for the minimal revenue such a property produces....that's a lesson I'm glad I haven't had to learn through experience!

This solution is like putting lipstick on a pig and taking it to prom. 

I have yet to find a flip just needing the basics... perhaps 2020 will be my year for a successful lipstick renovation ;) 

Now only after a lipstick level renovation, I'm asking for almost thousand more than what it was from the last tenant and getting responses. 

I'm doing a lot less "upgrading" on my rentals and basically doing lipstick on a pig improvements like fresh paint, flooring and appliances.

It was a foreclosure and it was lipsticked so I thought it was good.

Do Minor lipstick renos 10-15k a unit when they turned over.

I evicted a few more tenants....been doing some lipstick renos and getting higher qualtiy tenants.  

Also be careful of the flipped houses up there, I’ve looked at a few for rentals and a lot are just lipstick on a pig.