It's al about timing and opportunity.
Yes, there is only a fractional amount of flippers by comparison to 3 -4 years ago but they are still out there.
Just read a Trulia posting yesterday where a buyer purchased a foreclosure and was immediately putting it on the market for $250,000 more than he paid for it.
What makes opportunity? The right home.....in the right location.....offered at the right price
Perfect for flipping.....