Strategy: Rehab Plus By and Hold

[Donald Spivey]

Here is a strategy that I am looking at:

Rehab and resell homes plus by and hold.

50K to invest

Purchase 30K house

Rehab 20K

Sell 100K

Put away taxes and savings off of house one and bank the profit. 

Rinse and Repeat...

Every three to five houses, I will purchase and hold a home with cash (focusing on the 2% rule).

My plan is to do this all with cash.

Is this too idealistic? 

Thanks for the help...