While there are better choices out there to "flip", keep in mind that flipping is always a gamble. Always know that you make your money on the buy and not the sell. There are properties out there that are 30% if not better under current market value, so you never know.
My honest and professional opinion would be to not buy an investment property that you could not financially carry for at least 5 years. Now, of course you can rent the property to offset carrying costs, but I like to buy thinking longer term and jumping on an opportunity should it present itself....that's where the flip comes in.
Of course this depends on what kind of purchase you are looking at making. If you have the capital to make a cash purchase and do repairs and upgrades, there are several remarkable opportunities out there. If you are looking at significantly financing the property and hoping for appreciation and a good under market value purchase to make the money for you.....I strongly suggest approaching the purchase with a longer term outlook.
Mike Dobranski, REALTORÂ®
Prudential Americana Group, REALTORSÂ®
Las Vegas / Henderson, NV