Sell Rental Property to Jump Start Flipping Business?

[Tim Porsche]

Hey Everyone,

I have an idea, but I wanted to run it past all you smart, sophisticated, and highly intelligent people to make sure I'm not bat crazy. So tell me your honest thoughts and opinions on this please.

I have a rental property that is netting me about $500\month before taxes in profit. If I sell, I could most likely get about 40-50k out of it. Right now I have 15k in disposable income, and zero debt (except for the rental property mortgage). If I wait until Spring 2016 to sell, I could easily save an additional 10k, giving me a total of around 70k when I sell (hopefully). 

With that 70k I would be looking at purchasing distressed properties to flip in the 40k-50k range, putting 15-20k into them, and hopefully selling for around 100k. Obviously I would work out the numbers in great detail before doing anything, I'm just trying to shorten this for readability sake. 

Anyways, my question is, would I be crazy to sell a rental that's providing good cash flow to get cash to do flips? I'm thinking that my total profits per year on the rental are about $6k, but if I take that money out and can do flips successfully, that money could help me make a lot more thank 6k per year. Which is good as my ultimate goal is to reach a place of financial freedom as soon as possible.