In order to consistently win at the fix and flip strategy, you need to understand the whole process and diligently stick to a strategy.
I have flipped over 30 houses in the last 4 years. During this time I have executed on a wide variety of strategies, with most of the flips being extensive renovations.
The process of fixing and flipping is broken down into 3 high level parts. These are the purchase, renovation, and sale.
What is a distressed property? A distressed property, is a property that requires work to get it to the optimum sale state.