house flippers are people who buy a worn out or crappy-ass house, fix it up and sell it for more than they paid for it.
flipped: when you sell your house and it gets bought by a house flipper then sold again
dude: so that no stupid house flipper comes along and sells it for more!
I just sold my house 2 weeks ago and now I see another for sale sign out front!! grrrrrrr! I got flipped!