that is nice to have a common interest. It is a lot of stress but you will learn from the successes and mistakes. Certainly you can make money.
The lessons I have learnt and am still learning
- Don't trust what people say. They will tell you what you want to hear.
- Contractors are a pain. Don't send them money until you see proof of work.
- Always assume you won't sell quick enough and for the fair price. Buyers can be very picky unless you are flipping in the hot areas - bay area/seattle/nyc area/nashville etc.
Good luck