Green’s Dictionary of Slang

1. (US) to acquire, e.g. land or stocks of drugs, then rapidly sell or dispose of for profit; thus as n. an increase, a profit.

1975		C. Trilling in New Yorker 17 Mar. n.p.: [of profiteering from house purchase and sale] he difference between an established family and a new family sometimes seems to be that the established family pulled off some successful land-flipping in the thirties instead of the fifties.
2000		]W. Shaw Westsiders 264: Flipping it: the entrepreneurial dream of the perfect hustle in which a buck makes ten, a gram of cocaine makes a kilo.
2008		Young Jeezy ‘My President’ 🎵 Had to hit the streets try to flip some keys / So a nigga wont go broke.
2014		Young Jeezy ‘Me OK’ 🎵 Break ’em down into zips, that’s a hell of a flip.
2016		N.G. Van Cleve Crook County 31: [M]any private attorneys [...] flipped cases for cash. Their business model thrived on taking as many cases as possible and closing them as quickly as they could. Profits were in quantity of disposals, not quality of representation.
2017		hubpages.com ‘Roadman Slang 4 Jun. 🌐 Flipping - selling/dealing, anything from CDs to narcotics.

2. (US) to renovate.

2019

S.M. Jones Lives Laid Away [ebook] ‘I flip houses’.