First off i suggest having at least 10m to start but i have seen people start with nothing and do nothing but flip and have a billion cash stack in a couple weeks of flipping so its possible. I also suggest having a spreadsheet program of some kind if you don't have office then get open office for free here is a link:
http://www.openoffice.org/ to keep track of your flips and profit margins so you don't have to have pen and paper.....better for the environment also.
Ok so in the first coloum of your spreadsheet type in item that's the item that you are currently flipping or checking; in the 2nd coloum type in SELL; in the third coulom type in BUY; in the fourth coloum type in PROFIT MARGIN, in the profit margin coloum type in a formula b(number of the line)minus(-)c(number of the line) so it will display in the prift margin coloum the correct profit margin for each item you flip so you dont have to have a calculator all the time....its just a time saver.....work smarter not harder
Ok lets go through a flip with an item....lets do something simple and not a big margin but traded alot...lets do abyssal whip....so i go into my GE and put in an offer for 10% above mid to buy immediately....and it bought for 82076 (make sure to type numbers exactly) so we type that in our sell coloum cause that's what it was sold to us for and what its selling for. So we turn around and repost that item for 10% below so it immediatly sells and we can figure out our profit margin.....and it sold for 72000 so our profit margin is a whopping 9024 gp (not bad i guess if you just have a little bit of cash). thats not too hard is it pretty simple isnt it......yeah its really easy.....if you have any questions hit me up in game or post them here.
Thanks for reading my guide,
RickP