I wouldn't eliminate the idea entirely. But I would suggest that you be VERY picky about what and where you rehab. Location, Location, Location is particularly important in this market. It's no secret that the market is tipped in favor of buyers. There are a lot of homes available for sale and market times are longer than we've seen in years. However, houses that are priced right and in a desirable location are still selling. My advice is to speak with a local Joliet Realtor (I don't work in that area but would be happy to refer you to someone) about market conditions, what areas are selling and what price ranges are selling. With that information in hand, search for a house to flip. Be choosy about location, floor plan, yard etc. And be realistic about how much you can afford to put into the house, how much work is required to make it desirable for buyers (buyers are very savvy and shy away from shoddy rehabs) and how long you can afford to hold the property.