Realistic profit margin ?

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Call me crazy, but after gobs of research I believe I can consistantly buy/sell distressed (HUD, VA, bank owned) properties in my area and average $10-12k net profit with a average 90 day turn. These would be houses in the $75-125k range...so we are talking a 10% + / - profit margin. Yep, it's close but in my calculations I'm very liberal with estimates on rehab/holding/selling costs.

I'd rather sail along "under the radar" and consistantly make my $10-12k house after house rather than fight for the houses with larger profit margins.

Seems like most of the folks that do this for a living are always talking about 30-40% profit margin ??? Sounds nice but seems like those properties are very few and far between.

What am I missing ??

pfinder