Flipping houses seems to me to be a numbers game when you do the demographics and count the number of sales in any given area. Emily and I flip 2 to 3 houses a year and have been in the game 30 years. We bought 3 this year but put rent-to-own buyers in two of them. Its really tough to get your top dollar right now, unless you REALLY buy right. Of course those who flip homes in rural areas may tell you that its the best way versus someone who does it in the city. We have done both and just prefer being near city areas and suburbs. Got to look at the number of sales going on. If you jump into an area of real slow sales, your flip could sit on the market longer also. I hope this helps.
Best regards..., and "sharpen your pencil twice" before you begin!
-Don / Associate Broker