Don't forget about store credit. I know people that have wall to wall tanks and their operating cost are virtually zero. And they still make some dough too. If you can work out a deal with a lfs for some credit and some wholesale you'll be better off. Lfs are willing to give more in credit than cash.
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Ah yes I forgot to mention this earlier. I was shooting for store credit to start. They don't carry much that I need (besides first bites) but if I built up a lot I'd have no problem having them order stuff for me even if it costs a bit more