I would also avoid buying a home you're fixing up to flip when you have to also live in it--if you've never done that, I can tell you that it is NOT fun.

Have fun with all the catch up:)

I've never gotten away with just cosmetics on the properties I've done in that age range.Couple other random comments:You won't be able to do a 1031 exchange as someone mentioned.How long are you planning to take - guessing your sale would hit the market during the unfavorable winter months?

@Marc Winter  If you are asking about the house I referenced.  

It all fun and giggles until you go to eviction court.  

@Elbert Dockery I'm hoping this winter things will get better for investors in Chicago.  

Some didn't need any work or not much and sold to end users.I live in the Pacific Northwest but nationwide we've heard of folks doing wholesale mobile home deals.Good luck and have fun!

Also, I may be having so much fun with my dreams being a reality that I'll just keep buying.Is this plan realistic or too ambitious?

I am told that the average profit on a flip in Maricopa County is $10,000 (I do much better than that because I buy correctly and I don't over do the remodel)6) Remember, you make your profit when you buy (buy wisely)7) Flipping:      Fun?

It's not fun hearing stories like this.