flip
1. verb To purchase and then repair and/or remodel a house for sale, ideally in a short period of time with the goal of maximizing one's profit on the sale. A: "Beige is so boring. Can't we use a bolder color?" B: "No. We're only flipping this house, and neutral colors will appeal to most prospective buyers."
2. noun A house that is being or has been flipped. A: "Beige is so boring. Can't we use a bolder color?" B: "No. This house is a flip, and neutral colors will appeal to most prospective buyers." Look at the cheap cabinets and flooring they used in the kitchen. This place was definitely a flip.