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Updated about 15 years ago,
Good Flipping Article - Wall Street Journal
Yesterday's WSJ had a good spread on flipping in today's market:
http://online.wsj.com/article/SB126022588878780861.html
Pretty much as most BPers know -- not a market for amateurs.
And here's a sidebar on a "Power Flipper", also termed a 'reluctant' flipper because what he _really_ wants to do is buy and hold:
http://blogs.wsj.com/developments/2009/12/08/a-reluctant-house-flipper-yearns-to-buy-and-hold/