If you mean playing the assignment game without being a FL licensee that is NOT legal.

If you do not spend capital, you will not be successful. 90% of licensees drop out of the profession in under a year, and almost 90% of the remaining drop out in year 2. 

So if you are new licensee and you are called a broker such a some states do then I cannot give you good advice on what route to take.

He was advertising properties he did not own, and was not a licensee.

@John Bruccoliere This will depend on your state, In California where I'm originally from, a non-licensee can collect a "Referral or Finders fee" for the introduction.

A licensee of the Board shall comply with the Board's regulations, notwithstanding the fact that the licensee would be otherwise exempt from licensure under subsection A."

Do any of the licensee's out there do any marketing for distressed, off-market sellers?

The Agency’s investigations are complaint driven, so we rely heavily on the public, and our licensees to bring these individuals to our attention"so all though wholesaling is taught and defended especially on BP its not really legal the way most do it in virtually any state if you actually read the law.. but that does not mean it does not happen every day of the week .. just depends when a state wants to focus on enforcement.. so you can see our state will do something if a complaint is filed and I know they will.. one of my bird dogs got a cease and desist had to go to a hearing with a lawyer and paid 5k fine.. all for putting a forsale sign in a yard on a home he did not own..

Just make sure you disclose to the public you are licensee.

How it holds me back, is that when you hold a license, you are, or at least from a moral compass, should be held to a higher standard and follow the ethics of a real estate licensee.