Buying and flipping domains can be very profitable, it's my main source of income since i got hooked on it 5 months ago! Imho i wouldn't buy CheapyLoans.com for $10 neither would i reg it if it was available. Find names which can appeal to an end user (i don't see a loan company approaching you for CheapyLoans.com) or names with stats and traffic so you can resell to another domainer at a profit for them to resell. I buy domains and aim to have them gone within a month unless they have big end user potential in which case i just wait! Do some research into the subjects i have sources that can help you but if you want them PM me because i don't want to promote other places on the forum. 
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