Is it a good idea to flip a house

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My friend and I are both 19 and have been very interested in real estate for a few years now and finally want to start by flipping a house this Summer. It is a very beaten down house that has been pretty vandalized (copper wiring stripped, holes in walls, dirty, windows broken, etc.). We are looking to get it for 5k-10k and from the research we've done we've estimated we'll have to put about 40k. We're then looking to sell it for around 75k. This will be our first time doing anything like this but the numbers seem to be positive. Is it a good idea to go on with this and if so what are some helpful tips for beginners?