+1 Rarely if ever will you make any money on a flip if you pay a shop to do the work, unless you score a top end, high value bike (very rare find indeed). On regular bikes, there just is not the margin on a flip to pay someone to do the work.

I load up on mail order sale parts ($5 tires, $2 tubes and so on), and then put the minimum into a lower end bike. The one on this thread would probably not be worth even doing that. I bought one similar to this thread, but paid $10 for it. I'll put $5 into new cables (Walmart), one new tube, clean it up a bit, and ask $75 for it. Really bought it at a weaker moment (thrift shop). Thankfully, I bought two that trip, and the other one was better, required no work (other than cleaning), and I sold it for $120.

If you are not going to do the work yourself, in the US, I would just donate the bike and take the tax write-off. Or sell the bike as is, to someone that will do the work. You could probably get $30 to $40 for it as is around here. Kind of shows that fixing it would not likely be a money making exercise....