Can you quit your 9-5 job to rehab/flip/buy and hold properties?

[Briana Bean]

I know that many have the opinion that you should hire out the rehab work to be done on your flip or rental; however, my husband is skilled in construction work and enjoys it. He would like to buy properties and pay himself to rehab them for flips or buy and hold properties. Can you quit your job and do this, paying yourself what you would have paid a contractor? Eventually, the goal would be to have enough rentals to where we would no longer need to do the work ourselves. I understand this would probably cut out bank financing for a while as a bank wants to see some form of steady long-term income coming in. 

Have any of you guys done this? If so, can you share your experience? 

Is it worth it after interest on the loan you took out to pay yourself and taxes for income are paid? 

Have you been able to find financing at affordable rates? So maybe starting out at higher interest rates with private lenders or  hard money lenders and then refinancing with the bank once you can show the bank a steady income? 

Probably not the strategy for everyone, but my husband would rather work for himself and enjoys this kind of work -- so why not pay himself?