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You'll probably never hear an editor yell, "Write the flipping story," across a newsroom. Too bad. Across the United States, speculators are engaging in real estate scams call "flipping" as fast as they can. It's an old gambit. You've probably seen motivational programs on the practice on late-night TV. "Buy property with no money down! Get rich using other people's money!" In short, flipping is the practice of buying property and turning it around quickly for a large increase in value. It's not inherently illegal. But it often is.