That is so true Brute. Unless you start off with the perfect scenario (easy to fix, very cheap purchase price), it's really hard to make money or break even on a bike flip. Unfortunately there is a ceiling on how much people want to pay for a bike, and they don't really acknowledge the work put in to it. If they don't buy your pristine bike, they'll just buy the other guys bike that is not nearly as nice but is what they want to spend. Last year I flipped a 2003 KX 250 that I put a lot of work into and parts on. The bike looked perfect. Thankfully the parts mostly came off of other bikes when I upgraded, so my cost was low. I put the bike on CL for $2,500, and didn't get much attention. When I lowered the price to $2,250, I was able to sell it in one day. There was another guy selling a nice 2005 for $2,500 that had it on there for months. I've found that locally the most you will get is around that $2,250 mark.
You might try eBay. It seems like the bikes listed on there are a lot higher priced, and you get a wider audience.