I have flipped a couple of bikes on CL and one on the 'Bay. I completely strip each bike down, regrease BB/headset/hubs, true wheels if needed, and build it back up. I don't always replace cables, housing, chain, tires, tubes, or bar tape depending on the condition. All of the bikes I have flipped I bought for $30 and under and sold for atleast $100. The $100 bike needed tires ($20) and new shifter cables ($7). When I sell a bike on CL I sell it as ready to ride. The one bike I sold on Ebay I only cleaned up and made a very large profit on for only 1-2 hours of work. I need to find some good deals on bulk shift cables, brake cables, and housing. I have two Schwinn MTB and one Peugot that need to be finished. The Peugot had a trashed rear wheel. I might buy a new rear wheel, and turn it into a fixed gear/SS bike. I have a couple of other frames that I might put up on Ebay because I robbed parts from them for my own bikes.