There is potentially a lot of money in flips - we’ve done 4 so far and made handsome 5 and 6 figure profits, but just staring out, you can also really get screwed - not knowing what to look for and to avoid!  

But from what I’ve heard they are inexpensive to replace and heat the homes well.numbers work for sure, it will cashflow handsomely.  

Once sold, any negative cash flow over the holding period was returned with handsome returns from the sale proceeds and the ultimate profit (cash in pocket) well exceeded any cash flow positive deal from day one in the Midwest (or other similar area of the country).

a handsome sum then.. it had gone up to mid 400s and of course as a young guy raising a family i did cash out refi's to payoff other debt etc you know the drill.. so my choice was keep it and suffer the 250.00 a month negative or sell it and move on with not a huge amount of cash that I could lived without at the time. 

On the other hand, some investors take advantage of their primary residence and do a cash-out refinance to fund their next investment. 

.$45,000 per unit sounds like a super great deal for 48 units and if you can't purchase the property for some reason, someone like myself may want to pay you a very handsome finder's fee for finding the property and selling it to someone like myself.

Things don't have to get out of hand. Some

You can purchase a property that does not require a lot of your time to manage, have 100% control of your money, have 100% control over every decision made and 100% of the profits belong to you, or...you can give 100% control of your money to someone else, have that person have 100% control of your money, have that person have 100% control over making decisions, pay that person a handsome fee to have 100% control over everything and you will get only a fraction of the profits.I say; never ever give someone control of your money.

On the other hand, some investors believe having a license puts them in danger of having higher liability.  

Yup what that handsome feller above me said!