I am aware of at least two other flippers in my target area, but it's disconcerting that my contractor and such a key member of my investing team is going to be yet another competitor.

Or you just want to buy some SEO for your competitors lol it's great for that.

That's the equity in this real estate.Unlike a business that is producing some product or service and that has some ring-fencing against competitors, real estate really has little value beyond the asset itself.You and @Joel Block make valid points that your EXPERIENCE does have value.  

It would be a great way to learn your way into REI and they might feel less threatened by your ambition to get into REI than working for someone that will eventually be your competitor.  

I know I would have a buyer swipe this up quick.

He didn't have a chance because all of his competitors were enhanced!

Or the investor swipes the keys after seeing the house.

I'd guess you have a lot of competitors that understand the silly rents they can charge to the oil workers.I plan on having 90% of my offers refused.If your winning every time you make an offer you are probably paying too much.

Just like what happened in our mortgage business, a law that passed drove out a lot of goofy competitors and made the rest of the business better.So, where I'm not a big fan of governmental regulation or the big world of consumer rights, I will say that sometimes when I see a highly regulated or "swampy" environment, I see opportunity.

We are friendly competitors with them in Memphis and I have nothing but good things to say about their service and their products.Good luck to you!