Buying, renting, than selling?

[Corey Russo]

I am a beginner so I apologize in advance if this question is quite blunt and basic but here we are. So I just saw a post asking if BP was hoping for a recession, and I saw mixed answers. I do not own any properties and I was thinking, what if I buy a property when it is very cheap and has little to no equity, fix it up if it needs repairs, rent it out for some time and then sell it when its equity is high to earn the most profit. Do people do this? Is this a good idea?