I haven't bought items, cleaned them up and resold them but I have purchased a couple of those items and I really love them. One is a little children's table and 4 chairs that a lady bought at a garage sale, cleaned them up and then painted them in a motif of garden and flowers.
But DH and I have had luck on Craig's List sellling extra furniture. We sold our old dining set and hutch when we moved and our old bedframe/head/foodboard as well as some end and side tables. Last year, we sold our too-large patio set at our garage sale. We generally use the cash to buy the furniture we need, eg, we used the money from the sale of our patio set to buy a smaller table and chairs that would fit on our screened porch. We used the money from the sale of our dining set and hutch to pay for new fabric for the seats of my inherited dining set that I got from my parents.
We have sold other things just for cash to get rid of extra furniture. In the future, we won't need our baby crib and changing table. Not sure I can sell the crib with the new regualtions about drop-side cribs. So we may just store in the attic. But the changing table can be sold.
This makes me want to walk around my house and see if there are any things that could be sold, LOL!