But I am sure there's a way to make it work.That's is a great way to get started with rentals, sounds like life sort of gave you a hint!

Do I need to have some sort of license?

I'd like to say I was some genius who waited for the perfect moment, but it all just sort of happened, my business was growing as the housing market crashed.Fast forward a few years to 2012-2014 and my wife at the time and mother to my two kids decided to sneak around, cheat, and have a baby with another man, then claiming it was mine before using this poor kid as extortion to try to get a windfall settlement and child support.

You could get into note investing and become a banker (of sorts).

If you ask an agent to do this for you they are going to want compensation of some sort as a buyers agent.

It's tight, as there will of course be closing costs, and some renovation costs, but I want to show I have the money in the account.I can open an LLC for 250-300 dollars within a week, or I can just work with a title company to show a sort of temporary LLC in case I don't get the house.I need to put down earnest money (say, 1,000).All of this requires time, effort and a bit of difficulty as I live overseas.I know I won't get every REO I bid for, but I was wondering if it is worth it to do all this, assuming the bank will reject my offer, in the hope that there will eventually be a property that is worth what I offer for it, and I will get it if I keep making offers.Also, if I show I have an LLC that turns a profit, what are the tax implications?

@Jack RamseyI believe that Phillip meant that prices will continue to rise due to the low inventory supply and I agree, however, the market feels very overbought and I expect that some sort of correction is in the not so distant future.

I just can't spend lots of time with everyone without some sort of compensation for my time because I have a life and a business to run. 

Thanks @John Thedford while I appreciate your devotion to pointing out how wholesaling (in the trending structure) is illegal and everyone should get a real estate license, I'm not sure your reply addressed my point at all - in that agents/brokers (the licensed ones) are adding fees on top of fees, in a "daisy chain" sort of way, that essentially pushes the "wholesale" deals to near ARV, leaving no "meat on the bone" for those of us that actually do add value through improvements, etc.

If he has any sort of interest in the property, he is legally and ethically bound to disclose his position to potential buyers.