The crew at CT Homes decides it's time to flip two multi-family Victorians on Elm Street which they own as rental units. The beautiful homes situated in one of New Haven's historical landmark neighborhoods near Yale should turn a hefty profit, but they need to be improved before they can be sold. It's competition time as Paul and Than square off against JD and Jeremy to see who can do the best flip and make the most profit. The two teams differ in every area, from budget to design. Will JD and Jeremy's motto of "flip it fast and flip it cheap" hold up against the more conservative Paul and Than who believe that more time and more money makes for a better flip?