I know a few people who flip houses and they don't do the manual labor ;)
I'd start doing it tomorrow where I am. Lots of 2nd homes have gone into disrepair and our RE market is kicking ass. HOWEVER, from talking to my friends the #1 issue is getting a good contractor. Right now the building boom is still going crazy and there's just no one to get stuff done.
I have a guy who paints inside and out but he's literally booked up for the next year. The flooring and cabinet guys I've been working with on my own home aren't "high end" but they are higher end than you'd want to put into a flip. I have a GREAT plumber - he was a friend of my son's, works for the biggest company here and does stuff on the side
But forget about finding anyone to do the grunt work - demo, framing and drywall. I had a wooden dock I couldn't even get someone to tear down and take to the dump for me. I made sure to take note of who didn't call me back, the bastards - and gave the guy who did it an extra $150 just for showing up
Meanwhile retirees are buying these "needs work" homes here and finding out it takes months to get what should take weeks.
Of course, I'd need someone I could trust to look at the house and tell me if it can be worked on but he moved to Panama ;)