Flipping is going..it's definitely happening all around me so it feels a bit saturated.

I'm not a wholesaling expert so take this with a grain of salt, though I would think mailing to a zip code with high cash sales probably would mean that that area is pretty saturated with other wholesalers/ investors as well, so I imagine competition via that strategy may be pretty tough.  

In this case does this mean that the market that I have selected is getting saturated and getting foreclosure properties lower than the market rate is not possible?

....get fat

Location Location and Location and demographics, saturation, doors available in the area for rent, absorption, economic impact, job resources, and so on.

The market was way too saturated, but a smart investor who knows how to find sellers correctly could have done great in that market.

After all, my personal house had nearly doubled in value since purchasing it a year prior and I was feeling pretty fat about my new-found wealth.

LOL My statement was assuming that you had placed a fat down payment.Please don't take my posts offensively as I do respect the vast experience you share with the community, and do not intend to offend when I share my opinion.

My market is SATURATED with cheap houses, decent size homes with decent size lots are plentiful here and most are going for under 120k.

We're most interested in investing in MFH, but keep hearing how saturated that specific asset market is in Huntsville.