Theoretically, you can make some good money but that's if you luck holds up. You buy, renovate and sell soon after. But should it take years to find a buyer for the house you thought would make a good investment then I suppose your money would have been better invested elsewhere. But if you have a lot of money and you don't want having most of it sitting idle in your bank account, then this sort of investment would be OK because at least you don't lose any cash in the process.
It's always a risk, but if you have the capital to invest it's the best deal because you can get huge profit. Just buy in a good area and you're good to go.
