I have considered it several times before. I considered it about 6 years ago when I was like 14, it was the first time I heard of "reseller" and though, humm there is money to be made here!
Unfortunatly i'm not stupid enough to go into this market, oversaturated! I'm friends with a bedroom host as you call it, he puts in hours upon hours everyday running his business, sure he does make quite abit of dough though.
The problem is, you can make enough money to live off through hosting but if you want to get serious about it you can't do it alone! You're need to get staff, dedicated support teams and allsorts. It's a very difficult business to crack and pretty expensive to start-up.
With that being said, when tf finally gets going....as in our website I have thought about providing sponsered hosting/free hosting to our members or something, perhaps even some paid plans. I would like the challenge!