I believe that flipping is more complex than the TV shows make it appear.
First, real estate transactions are complex.....therefore to be a flipper, someone needs to understand the ins-and-outs of real estate transactions, and related financial instruments (mortgages). Ideally, if you are a licensed Real Estate broker, you can act as your own broker and save the broker fee.
Second, you need a crew or crews who are reliable and are going to deliver on time and on budget, without ripping you off.
Third, zoning and permitting are complicated and vary from town-to-town.
Fourth, the market is volatile and understanding timing and the nuances of each market is important when making investment (flip) decisions.
Fifth, you will need a good mortgage broker, lawyer, engineers, inspectors, and other professionals in your orbit to have successful flips.
The TV flip shows focus on the drama, that "project killing" problem that surfaces, and the interpersonal conflict with the flippers.
I think there are a precious few ppl who actually make big money at flipping. There is money to be made. But proceed with caution, as there is as much downside and upside.
My husband thought he was going to flip houses in his semi-retirement. I think I have talked him out of it..... 😨