Lol, wait, you are not capable of even calculating a fair market value today pre flip vs. after improvements accomplished in 3 months in an established market?
I can't help you here then.
Yes, there are many flippers that do not know what they are doing and over bid because they do not understand what they are doing with all costs easily determined.
X. Good luck. I know of one flipper that was left holding the bag on a $300k loan faked, sastiying the mtg. Stamps and all. And that 300k was covered after Mtg insurance 1 year investigation, but he still sold it, just had to carry that loss for a few months.
Lol, I just thought of something. When you sell the house, do you post negative things about your work and problems with the neighborhood and home?