@Andrew S. I will be turning 49 in six months so I can definitely feel the big 5-0 looming on the horizon. I am starting to take action toward getting my first flip. I will be flipping to pay off some consumer debt and build some capital. I plan within a couple of years to use both buy and hold and flipping for exit strategies.
Flipping is great but provides no passive cash flow so rentals are in the future for me and I can always use Property Managers if I get tired of dealing directly with every little problem.
I am also developing my long term business plan and gaining a ton of knowledge, I may still work full time until I'm 62 or so.
I live in an area (Seattle area) where cash flow properties and easy flips are nearly nonexistence. Especially at a price point the meets my criteria. I have found the there are places within an hour of my place that do work so I am looking there as well.
Good Luck and go for it !!