I think this largely depends on YOUR risk profile.

What's your tolerance for risk?

It may feel uncomfortable at first, you may have to find what works for you, but if you want to consistently find potential deals without immense competition it's likely where you should start.  

Plus, keeping an eye on market trends and potential future developments can really give you an edge in making a smart investment.

Wholesaling is a great option to diversify your toolkit of potential deal exits if you are an experienced investor, but I think you should always have the ability to flip the deal but decide to wholesale due to some other limiting constraints (e.g., not enough contractors, bandwidth, etc.).

Job growth and economic development in the area, such as the establishment of new manufacturing centers, will further bolster housing demand​​.Mortgage Rates and AffordabilityMortgage rates, which have been at two-decade highs, are expected to stabilize and potentially decrease slightly due to anticipated federal rate cuts.

Hopefully, that every corner you try to cut to save money - has potential negative repercussions!

Capital can always be borrowed/raised as well, you just have to have a good enough of an opportunity to support the debt and compensate you for the risk. 

When all factors  are considered in totality, the applicant's 2.7 income factor may be a "safe" risk, but if the other factors indicate a problem with this applicant's qualifications, he may prove to be riskier than you should permit.

There are risks involved, as in the US and Canada and as with any other investment.