I've flipped a few houses and own a four family house.... that I purchased with no cash out of pocket. You don't always need cash.
There are LOTS of ways to make money with real estate. Some deals may lose money... but that doesn't necessarily make them a bad deal especially if they will eventualy make positive cash flow after a short time.
The only thing you need is drive. We've got lots of that here at BC.
You also need a housing market that allows for such profit. Orlando USED to be like that, but there are so many homes on the market now, and so much value being lost, that the owners would rather rent the homes instead of taking a loss on them.
Google search "best housing markets", then do "worst housing markets". Then you should get a good feel on how risky flipping can become.