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Department According to recent data from RealtyTrac, the Sunshine State frequents the list of top markets for flipping homes and turning a profit, with several other Southern and Western states rounding out the inventory. MIAMI, FLORIDA LAKELAND, FLORIDA NASHVILLE, TENNESSEE SARASOTA, FLORIDA TUCSON, ARIZONA Average purchase price: $138,064 Average flipped price: $189,291 Annual change in home values: 16% Average purchase price: $68,444 Average flipped price: $93,715 Annual change in home values: 14% Average purchase price: $108,851 Average flipped price: $146,872 Annual change in home values: 9% Average purchase price: $116,783 Average flipped price: $156,983 Annual change in home values: 13% Average purchase price: $117,338 Average flipped price: $156,685 Annual change in home values: 16% Hot home: The Versace Mansion, a $75 million estate reduced from its original asking price of $125 million, is the former home to world-renowned designer Gianni Versace. Also known as the Jewel of South Beach, Miami's sprawling 23,462-squarefoot estate boasts 10 bedrooms, 11 bathrooms, center and side courtyards, a 24-karat-gold-lined pool, and hand-painted murals and frescoes. Hot home: Welcome to a modern-day castle in the guard-gated community of Avila, near Lakeland. With 28,000 square feet of living space, the house offers 10 bedrooms, 13 baths, library, wine room, and ballroom. Throughout the interior sit 14 fireplaces, an elevator, and handcrafted millwork and molding. In the backyard nestles an outdoor living area with pool, cabana, and spa. Lush grounds surround the home, which lead to a premier golf course nearby. The home is on the market for $12.9 million. Hot home: Architect Eric Stengel designed this Colonial estate with a luxurious grand foyer and floating staircase, elegant kitchen, a study overlooking the pool, a recreation and media wing with fitted blackout shades, an exercise room, and a gift wrapping room. The attached three-car garage is temperature controlled, and a deluxe outdoor kitchen and large pool make up the backyard and provide plenty of space for entertaining high-end clients. The home is listed $4.5 million. Hot home: The Cooney House is HGTV-nominated for "Best Mid-Century Modern House in America" for 2013. Built in 1967, the abode has won many awards for its simple and clean design. The house sits on the resort island of St. Armands Circle, just a short walk from the beach and shopping area. The interior features four bedrooms, three baths, and a large, bright and open living space. The home is on the market for $850,000. Hot home: Built for the hobbyist, this Tucson property features a darkroom, workshop, basketball and tennis courts, home theater, and exercise room. Expansive interior areas provide plenty of room for an art collector to display his or her paintings and sculptures, but the views through the large glass windows are a masterpiece all their own. Keeping warm on a cool desert night is easy with one of the seven fireplaces throughout this haute home. The home is for sale for $8.4 million. The M Report | 11