Property Flip - Existing Residential Home

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From memory, three bedrooms, two bath, with nice views and a 700m2+ block of land. I say from memory as I only ever saw the home once and that was on the initial inspection. The market was hot at the time, this was well-priced and a motivated seller. We negotiated a three-month contract and sold the home through the same agent for a $50k upside. Not necessarily something I recommend doing unless you know at least three key things. One: the market (and extremely well) with respect to the price paid. Are you sure you are under market on the buy price? Two: the strength of the market that you can flip it in such a short time frame knowing most take a month to finance and settle a purchase. Three: You can and will settle the home if it fails to on sell, i.e. you have a back-up plan. There, opportunistic projects can occur if you know your market extremely well.