Selling Home to get cash out. Rent and buy investment or flip?

[Tim Roberts]

Hello! This is my first post on the site. I am just starting to get my feet wet in the RE investing business. I do come from a banking background so I understand the financial side. My question is this, I am getting ready to sell my primary residence. I should be able to walk away with between $40K - $50K and no debt. My plan is to rent a place until I can find a good deal on a rental to buy. After that, I plan to find a property to purchase for a primary home to live in, fix up and eventually flip. Does this sound like a good idea and if not I'm looking for ideas on the best way to proceed. 

Thanks in advance for the input.