Action star Jeremy Renner has appeared in multimillion dollar blockbuster films like "Mission: Impossible - Ghost Protocol," "The Avengers" and "The Bourne Legacy."

But if acting doesn't work out for him in the end, Renner can sleep well at night knowing he has a multimillion dollar hobby to fall back on: house flipping.

The actor held forth on his side gig last week on "The David Letterman Show," revealing that he and a business partner have flipped 20 homes in the last decade and all of them have turned a profit. The projects, which can last anywhere from three months to 1.5 years, involve Renner and his partner, actor Kristoffer Winters, moving into the rundown homes. Together, they work with contractors to install water and power. Throughout the process, joked Renner, he sleeps in a sleeping bag.

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Renner's most recent flip is an art deco home in the exclusive Holmby Hills neighborhood of Los Angeles, Calif. He listed the property in mid-January for $24.95 million and looks to turn a tidy profit if he gets his asking price. Renner and Winters bought the mansion for around $7 million and "dumped a load into it," he told Letterman.

"It's probably going to be someone's third home, Dave," the actor deadpanned.

The Holmby Hills home, called "The Reserve," has six bedrooms, 11 bathrooms and over 10,000 square feet of living space. It sits on two acres of land and features a pool, spa and theater. The listing calls it "fit for a 21st century Howard Hughes." The home is represented by listing agents Rayni Romito and Branden Williams of Hilton & Hyland.

Photos courtesy of Hilton & Hyland. Home design by Kristoffer Winters.