I'm doing it for my own bag enjoyment too, I just could never afford a family of flaps any other way than to flip a few and use the proceeds to buy more and lather rinse repeat. And I always disclose to anyone who buys a rehabbed bag that I painted it and the strap is not original, etc... and provide lots of photos of the inside, etc... so I have not had any buyers not happy. I haven't bought any bag with issues I could not fix, at least to my own standards. Other people might not think they are as good as I do, but I am only making hundreds per flip, so the people I have sold them to are still getting a good deal, just not a sub-$1000 deal like I did when I bought it in an unpopular color/leather/etc, with tarnished hardware that I shined up.
So to be clear, I am not bait & switching any unknowing people, and I am not doing this as a job or anything, I just am buying low, selling a bit higher, to raise money to buy more.... and to eventually end up with a nice collection for myself, before I am sick of this hobby. At some point I will be tired of it and just keep the bags I have and be done with it. But it's fun for now, and I end up profiting several hundred dollars per purse, which is enough to then buy another fixer upper and thus grow my collection of rehabbed/vamped up bags that I enjoy very very much.
I have never bought a purse with poor structural issues because that is not something I can fix. I could possibly get it to look good for photos, stuffed to the gils to hide the poor shape, with a glossy sealed new paint job, but it wouldn't look good carried out in the wild, so I would never enjoy it myself, and I don't think most Chanel fans would either, so those bags out there that are crumpled and sad (because of the broken down backing inside the leather) I consider totaled and don't buy to rehab. I likewise don't buy any with tears, rips, holes, etc....