There are in fact anti monopoly law in place, but in order for you to be competitive, you have to have the infrastructure in place which translate into $$$$.  

Lots of opportunity but lots of competition - make sure you get educated first.  

These expenses are why most people don't last long as an agent...especially with how competitive it has become to be an agent. 

Now, if you look at California...or some other states with very heavy and sometimes usless regs things might be different.

Most people are willing to make an easy $50, just remember to be respectful of their situation.In our area there is a lot of competition at the auctions and it is not uncommon to see properties bid up to almost ARV and then adding repairs does not give you much margin to play with so any mistakes can cost you big time. 

I have a 10 day inspection on the property.4 Bed 2 BathNeighborhood: B+Crime Rate: SafeSchools: Under averageSize: 3400 sqftOriginal Listing Price was 225000My Accepted Bid was 180000 after heavy negotiating and bidding by my realtor.Earnest Money Deposit: 18000Repairs 15,000Most repairs were already doneTerms: All cash offerI have found 3 properties around the same size in 3400 SQFT+- 10 years construction date that are less than 1 mile away that sold at the following prices in the last 6 months.$290000$295000$345000However, I still see that there are some houses selling in the neighborhood on Zillow for about 170000 - 225000.

With the rise in the market and all the competition, I can’t see how you can make money if you have a mortgaged property?

There is still a heavy amount of REO's, although are very competitive can yield some great results for flip or hold.

You also have less competition since most other wholesalers are going after the residential stuff. 

When friends are over, they would showcase the property like a expensive painting.There has been heavy investing in Toledo from China and the Middle East.I think those to areas would be an ideal target market for such a product.I have never done or attempted to do such a deal so my comments are based on what some of my more experienced partners where playing around with.Thanks and have a great day.