You CAN make a living at it. Easily.
Most profit is made in the intial purchase. Become a good buyer and the rest will come.
A good detailing will add more than the $$$ and/or time invested
Learn to photograph, spell, and make good Craigslist ads
Almost anyone can make a couple grand a month flipping cars part-time with very little work
There are legal components you'll want to understand. Only you can decide whether doing things the legitimate and legal way is worth it. There are thousands of flippers doing things illegally. They may never get caught. Just understand the penalties if you do.
I have a dealer's license. You should look into it.
Georgia is like most states. They require you to have a physical location, a permanent sign, a working telephone, a place to securely store records, and a place to hold/display cars. Local zoning ordinances may have more strict requirements.
Georgia requires a $35,000 surety bond, and minimum $50K/$100K/$25K business insurance. Neither will be very expensive.
The license is $170 for two years.
You must have fingerprint cards, and must disclose any convictions
They require you to attend a seminar before applying for license.
http://sos.georgia.gov/acrobat/PLB/laws/35thru36_Used_Car_43-47.pdf
(17)(A) "Used motor vehicle dealer," "used car dealer," or "licensee" means any
person who, for commission or with intent to make a profit or gain of money or other
thing of value, sells, exchanges, rents with option to purchase, offers, or attempts to
negotiate a sale or exchange of an interest in used motor vehicles or who is engaged
wholly or in part in the business of selling used motor vehicles, whether or not such
motor vehicles are owned by such person. A motor vehicle wholesaler and a motor
vehicle broker shall be deemed to be a used motor vehicle dealer or a used car dealer for
the purposes of this chapter. Any independent motor vehicle leasing agency which sells
or offers for sale used motor vehicles shall be deemed to be a used motor vehicle dealer
or a used car dealer for the purposes of this chapter. Any motor vehicle auction company
selling or offering for sale used motor vehicles to independent motor vehicle dealers or to
individual consumers shall be deemed to be a used motor vehicle dealer or used car
dealer for the purposes of this chapter except as otherwise provided in division (x) of
subparagraph (B) of this paragraph. Without limiting any of the foregoing,
the sale of five
or more used motor vehicles in any one calendar year shall be prima- facie evidence that a
person is engaged in the business of selling used motor vehicles.