As long as there are sufficient safeguards to protect the building owner, etc., I have no problem with this. Thw lowest bidder is not always the best solution for the money. Currently, as long as you can get bonded, you can bid on state work. People do this and then roll up to the job-site with a ladder on top of their car roof. You can end up with a real problem with work that was completed in a sub-standard manner, and the contractor out of business.
Performance bonds