Fix & flip SFR strategy in a bear market

I'm in AM at a small REPE firm and have some time on my hands. I'm looking to build wealth a little faster, so I'm looking into some strategies. I've thought about consulting, owning a franchise, Uber lol etc. But fixing and flipping SFR's sounds like the ideal path since it's complemented by my work experience.

My question is, what does this strategy look like in the current bear market (secondary city in California where the average SFR is $250-350 psft)? I'll have to run some numbers on current $ cost psft to rehab, current $ home purchase price psft (pre-/post-flip), effect of current interest rates on short-term debt obligation, how fast I think I could turn the house, etc. But big picture: Is the current macro risk too much for this strategy to be a generally winning strategy, or assuming I do 95%+ of things the "right" way, can I make a half-decent risk-adjusted annualized return (10-12%+)?

I guess I'll also use this platform to ask two follow-ups: (1) If you think that fix and flip could still be a play, do you have any tips/tricks of the trade (besides working with a really solid GC, which thankfully I have), and (2) if you don't think the strategy is viable but are also looking to generate wealth a little faster (actively), what have you considered instead as a solution?