+2 Make it a sticky.
My rules on fixing and flipping:
1. Assume you're going to have to replace tyres and tubes. Budget a minimum of $40.00 for that operation.
2. Plan on tearing the bike down to the last nut and bolt, re-greasing everything, and reassembling.
3. Don't expect to make money on your labor. If you've come out ahead after initial purchase (purchase?
) and parts, you've made money.
4. Don't upgrade anything, unless you're planning on fixing the bike for personal use.
5. Used parts rule. The guy who run the re-cycle bicycle shop is your best friend.
6. Take any bike that isn't a WalMart bike -
if it's free. Even if it's in wretched shape, it can be used to build up your replacement parts stock. And the frame can always be sold to someone who wants to build a fixie.