Rbacchiega-
My uncle flips homes down in LA and actually had one of his best years ever this year despite the economy and housing collapse. He does high end stuff though. I doubt he would love me sharing this info and I am not even suppose to know this but he made just under 3 mil this year flipping homes (my mom has a big mouth
).
I was lucky enough to have parents who paid for their kids mortgage down payments, so my monthly payments are very low. That helps out a lot. My parents figured they may as well spend some money on us while they are around to see us enjoy it rather than leave it all to us when they are gone.
Oh and I lived in Arizona for a year--Scottsdale. I miss it! Actually I miss Miami more (5 years) but I am happy to be in Canada right now!