Buying and selling domain names can be an exceptionally lucrative venture to get into, however, if you are starting off with very little cash flow, it's always best to purchase lower-cost domains and generate small profits as you work your way up to larger flips.

While the marketplaces where domain sales are most lucrative will change from that of website flipping, the game remains the same with your focus being on locating and purchasing low-cost domains and flipping them for a higher price.

One of the great aspects of domain flipping is that the efforts required are minimal. No longer must you locate or integrate content, tweak website pages, outsource tasks, or transfer websites.

Domain Name Success Kit - Digital Download (PDF) 

All you need to do is find memorable, appealing domain names in niche markets and sell them to buyers, eager to create their own website on this domain.

Furthermore, the risks are quite low as are the investment costs, and once you have set up your system so that you are generating daily profits, it will require no more than one hour a day to keep the cash flow going.