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You've seen Flip This House (or maybe you haven't).

You've heard of people buying Sony PlayStation 3s (PS3) to sell on eBay.

So is it worth my time and investment to try and flip a PS3 online?

I work in the technology business, and grew up playing video games, so when there's a new system that launches, I get excited about it.

And when it's a system that costs $600 and is in low supply and high demand, I get more excited about it.

Obviously, low supply and high demand equals high prices, so if I was able to get my hand on a PS3, I could make an easy buck.

But how easy is it?

I'm not going to sleep in line two days before a product launch — I have a job.

I might try and buy one online as soon as it becomes available.

I'm not going to hang around Best Buy and Circuit City all day waiting for UPS to come with the shipment. (It's that job thing, again.)

I might put a Page Update Notification for the Amazon.com PS3 product page. (In fact, I have.)

But at what point am I wasting my time — and potentially money — in order to get a PS3 to flip online?

It all comes down to how much money I could be making in the time I am trying to get a PS3 versus the money I could be making from selling a PS3 online. With a ballpark figure of $1500 for a system, I could make $900 selling a system. But I'd be spending a lot of time — or getting really lucky — finding one.

What should I do? Is it worth trying to flip a PlayStation 3 online?