Flippin' Crazy!

So, I've been busy house-hunting, and came across one that just smelled like money when I walked in. Not literally, of course. It's a foreclosure, and for those of you that have shown foreclosures, most of them certainly do not smell like money.

It's in a very well-kept neighborhood maintained by the somewhat higher-end HOA. This year, the cheapest house sold in that neighborhood was at $270,000. The list price is well below that. Seriously, WEEEEELL below that.

I took a contractor friend (he's where the money for the improvements/repairs will come from if this comes to fruition) to inspect the house, and here are the results:

Paint..... cleaning..... and light fixtures. Seriously, that's it.

I've checked the area for days on market, current list prices, recent sold prices, and recent expired prices. Priced correctly, it seems there's no way it wouldn't sell and fill our pockets up.

PLEASE give my some suggestions or ideas or something - those of you that have 'flipped' houses before... it's greatly appreciated!