I have one currently and it is very successful. 

It's true that you can do a longer contract and most wholesalers do but also most wholesalers fudge the numbers and make the ARV much higher than what it's actually worth or the rehab cost is way too low.

Is anyone working in this space currently?

What is worst is when they run out of time on their current hard money loan and are paying penalties/very high rates for going past the maturity date. 

I would look outside of current development areas but not too far, and look for blocks that feel good to walk down.

Do you currently own any real estate at the moment? 

I did list it last night on Zillow, Avail, and FB marketplace and have already received about 8 inquires, which makes me think the price maybe a bit low and that six weeks in advance is too soon.

I'm trying to keep costs low while providing value and so I'm doing some shopping around.  

Accredited investor status is too low.

Currently looking at two properties one is Condo priced around 800K( which is not Ocean Facing) and one is townhome priced at 1.25M.