As a way to make a quick buck by buying and selling a home, flipping has flopped. Yet some diligent flippers who bought distressed properties at foreclosure made a gross return of up to 165% last year. Flipping accounted for only 3% to 4% of house transactions between the third quarter of 2013 and the third quarter of 2014 in metro areas where average house prices — for the most part — rose close to or over 10%, according to a new report by real estate website Trulia. A double-digit annual increase is regarded as the critical point that makes flipping worthwhile, the report says. Flipping involves the buying and selling of a fixer-upper property within just a few months — with the goal to re-sell it at a much higher price after spending money on renovations and fluffing.