Success in house flipping requires a diverse skill set, including: 1. Construction and renovation knowledge: Understanding the costs, logistics, and potential challenges of repairs and renovations is crucial. 2. Financial literacy: Solid financial planning and budgeting are essential for managing project costs and ensuring profitability. 3. Market research and analysis: Knowing the local market, identifying undervalued properties, and estimating renovation costs and potential resale values are critical steps. 4. Negotiation skills: Effective negotiation is key for securing favorable deals when purchasing and selling properties. 5. Project management: The ability to plan, schedule, and oversee the renovation process efficiently is vital.