Flipping houses is an expensive proposition. It's usually reserved for the wealthy or the bod, because there are risks involved. The number one most common mistake investors make while trying to flip a house is running out of money. Keep in mind, even though interest on borrowed money is tax deductible, typical interests rates are rising, so making a profit can be harder than it used to be with traditional funding sources. Though your profits will vary, the average gross profit from house flipping is $65,520 per house. Remember though, that's gross profit, not net profit. Too many times, house flippers