There is nothing more rewarding, in every meaning of the word, than profiting from the buying and selling of an asset.  That is as "Old School" as it gets in the world of investing.  For high yield real estate investing, flipping properties is the ultimate "old school" way to profit.

When something is deemed "old school" it is as a result of its effectiveness that has been proven over time, the most demanding test of all.  That is property flipping.  In real estate investing, flipping properties for a profit has always been a highly valued art.

That results from the high rewards from flipping properties, which also entails high risks.

If a real estate investor buys a property to flip and it does not sell, it quickly becomes a cash draining liability.  When a property has a mortgage attached, there is a tremendous potential financial burden for the owner.  Even if the property to be flipped was bought with cash, there is a tremendous lost opportunity cost involved.  The funds that are now tied up in the property that cannot be flipped cannot be deployed for other profitable deals.

Just as "old school" as flipping properties in the world of buying and selling assets for a profit is passive investing with a long term approach.  While that many seem incompatible with flipping properties, it comports with it quite easily.  The first, and most critical step, is to invest with an experienced professional in flipping properties for a profit.

As a form of risk mitigation, properties to be flipped should be able to be rented to cover the expenses.  That way it will not become an expensive burden if it does not sell right away.  Furthermore, real estate with good tenants is much more attractive to a buyer seeking an investment property.  Risk management is critical for all forms of investing, no matter what the asset class.

To further increase the gains and minimize the risks in flipping properties, it could be done through a retirement account.  When an asset is held in a retirement account such as an individual retirement account (IRA), there are no taxes on the investment or capital gains when it is sold.  If a property to be flipped produces rental income, than that is tax free.  When the real estate is flipped for a profit, there are no taxes on the gains, either.  

There is also risk mitigation from a retirement account, too.  If real estate is held in a retirement account, there can be no mortgage.  While that does not allow for any leverage to be deployed, the property will not become a burden if it does not sell.

To flip properties with a long term approach, it is best to passively invest.  That allows for profits to be made from the experience and expertise of professionals.  It also prevents mistakes, which can be very costly in real estate.  From that, there are no expensive lessons in "old school" real estate investing.