Risky thing to do right now. The good deals vary in areas. I doubt there is a "good deal" on the west coast right now, as there are so many houses for sale everywhere and no one yet knows where the bottom of the market will be. I've made decent amounts in AZ, but that has been fickle at best and I got caught in the current downward spiral when it came time to sell and the house sold for considerably less ($125k) than it would have if I'd put it on the market 6 months earlier.

Online banks with a guaranteed and insured 5.05% interest are a better deal than most anything right now!