Is there a correlation between Arv and profit?

[Ryan Dossey]

While I don't mind making 20k on a deal I am always looking to maximize returns. Is there a correlation between higher arv and the profit? I have seen guys flip homes 2x the cost of properties I have done and made less. I have also seen people make 3X what I average. Should I look at "moving up" in the market? 

Typical homes we deal with are valued at 175k or less. I'm not talking 500k+ homes but homes around the 2-300k range.