My future father-in-law flips 2 or 3 houses a year....and does REALLY well at it. But he is a licensed realtor as well as a licensed home inspector, so he knows the condition of the structure before he bids. He is also very handy and does most of the work himself. He won't go into a project unless he thinks he can get 15k to 20k profit after he puts around 10K into it. He gets killed on capital gains taxes though...I think he paid in over 20K in taxes last year at tax time...but that was with all the other real estate he sold though the brokerage he works under too. Trust me though...his pockets aren't nervous him and mom-in-law went on 3 cruises last year and a trip to Vegas...and they are on another cruise as we speak. So there is a lot of money to be had...you just gotta know what your doing.

Good Luck :thumbsup