Driving around my neighborhood, there are probably 15-20 single family houses for every one multifamily (duplex of larger), so the supply demand dynamics are even less in a wholesaler's favor than single families.  

In the end its all a free market and supply and demand are what really control the fees charged. 

Our 1st renovation we did not mess with the heat and ac, all the new tenants have supplied their own.

I will be supplying the down payment for the mortgage and initial costs.

The same goes for material providers (roofing/electrical/plumbing supply companies, cabinet company).

Texas has a lot of land though, and I see new construction literally everywhere, which is the one thing that would worry me - a surplus of supply. 

Supply is extremely low and city dwellers are migrating towards the suburbs which are perceived as safer and more stable in light of COVID-19.

I think that as prices go up in the Springs and the supply keeps being strained that will be the case.

Not saying there's an endless supply of these, but they are out there.

Phoenix is a very job diverse market, massive population growth, the standard of living is relatively low (aside from real estate), there is a major supply shortage of "starter" homes and costs are high to build new homes which all create higher property and rent prices.