Here is a video that I found of two gentlemen who are just out of college and had decided to flip a house, which is their first flip.
They did manage to keep their first house flip on budget though due to a few snags in their plans the 2 month flipping project did end up taking an extra month.
Now from I can see, if these to men would have learned to do more of the work themselves, they would have come in even further under their budget, or would have been able to do even more with the house to increase the homes value.
Even though they werent able to do most of the work themselves and had to hire out contractors, the project came out nicely.