1) Always get a list of potential buyers before buying a name
2) Don't park a name and wait for a buyer, actively approach end-users
3) Don't buy loads of names, buy 2 or 3, sell them and then reinvest that cash, if you dont, renewals fees will eat any profit you make.
4) Don't not hand-reg crap names (no good names left) , buy good names off existing owners and resell them, quality over quantity is crucial, have 2 decent names rathern thatn 20 crap names you'll never sell.
Depends on budget. A chunky budget will result in an easier time
...assuming a person doesn't, my three cents:
1. Be selective with what you buy
2. Always approach an end-user
3. If you own just 1 great domain ...talk to devs (develop it, it may work out). Example: If you saved up to own adspace.com ...saving up for that one great domain, through all your struggles and hardship, can you earn 5 figures a month from just that domain? (or a domain of a similar league) ...comfortably, I say yes
1- Buy 1 or 2 very good or excellent names to re-sell. There are all sorts of ways to do this today, including credit cards, special loan programs and payments to purchase a name that will have real value without eating up your wallet.
2- Do not buy a ton of names that are worthless or have little value and only waste your money. Most of us do this and learn the hard way. You may get lucky and hit a jackpot but the odds are against you.
3- Consider good and hard about developing one name to its fullest potential. With WordPress and all sorts of other platforms available today a non-techy person can do this and make a good living from a website. Find something fun so it won't be drudgery.
I don't make 10k/mo from domaining, but potentially I could.. I would say, maybe take big risks if you can afford them. For example buy a good domain for 100K and try to sell for 1M. I wish I tried this method a while ago,. right now not willing to do it. You can handreg and make big profit relatively on a few,.. but at the end you may realize in total you didn't make much profit. But still better than buying lottery tickets.