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Depending on what area you're looking at, it could work; on the east coast(mid-atlantic), it wouldn't.
I have seen those shows where people do it and I'm very leery about what goes on. First off, they're buying dumps-small houses that need serious upgrading and the neighborhoods don't look so fantastic most times. They use family members and friends to get the houses to sellable condition and who knows how good the work actually is? Passing inspection doesn't mean the goods are quality.
Second, (and this is just my outlook on it) this trend seems to push the real estate values to unrealistic heights. Granted, the market will only bear what buyers are willing to shell out, but it just seems an inflationary tactic that will and might already be backfiring.
Had I money to invest in real estate, I'd buy lots, not houses and hold onto them for a couple years. House values can and do fall, but land values themselves don't. Buy something that would only be valuable if the house were to be torn down, then maybe you'd have a decent investment. Just my .02.
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Don't blame me. I didn't vote for either of'em.
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