Have you ever purchased a house, fixed it up, then sold it?

[Jay P.]

Found a house that is in foreclosure. Its priced a tad high, but think that maybe then can be talked down. It needs a fair amount of work. Has anyone ever purchased a house, fixed it up over a period of time, and then sold it/rented it and made money? How do you go about figuring out if you can make money on the deal? Any help would be greatly appreciated.