The budget is the lifeline of the flip, and if you blow your budget you will eat up all of your profits from your house flip. When you are making the budget you need to itemize everything, and then do it again. Are you replacing cabinets, carpet, tile? Thinking about replacing the hardwood or just refinishing it, interior and exterior paint, sheetrock, plumbing, electrical, foundation repair these are all things you need to consider when putting your budget together. After the major item’s for your flip have been placed in your budget then you need to add little stuff like shower rod, hooks, lights, door knobs, cleaning supplies, any tools you might need, etc. Be as delegent as you can with you budget, and go over it several times, then at 5-10% fudge factor for items that will come up that you just have no way of knowing. Now, that you have the budget in place stick to that budget, and do not go over it. You may have to change some of your plans if things start costing more than you thought, but work it to the point that you do not go over your flip budget. Real Estate flipping is like any other business you must have a budget and stick to it or else you will wish you did.