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What you think about blog flipping is term related to blog how it is work in the blogger and how to use it
Are you talking about starting a blog and then selling it to make money? I guess I don't fully understand your question.
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If your question is about starting a blog and when it is popular, you then sell it. I think it is possible for one to do it as long as you have gathered lots of members at that moment.
From what I understand with website flipping, it is creating a website and selling it later. If that’s what you mean with blog flipping then I’d say it’s not an easy thing to do. After creating your blog, you need to post contents and you also have to promote your blog so it will gather regular readers. No one will buy your blog if it has no regular readers to speak of. With that in mind, you may need about 3 months of relentless promotion of your blog in any avenue that you can find for your marketing chores.