Is this Legitimate Wholesaling?

[JP S.]

Here's the situation: I'm finding FSBO's on CL and similar pages and then calling up the owner for some details. Then I'm thinking to myself, "OK, I'll just make a low-ball offer, then list back on--CL! Should be able to clear 5k on an assignment."

But I can't get past the fact that all I'm doing is inserting myself into someone else's deal, cutting out some of their profit, and doing the same thing they're already doing. Is this legitimate?

Tx,
jp