I don't own anything in that market but know a few people that do, and have *heard* that the market is saturated and not doing well.

Is it already too saturated?

It's been great in years past, however, due to saturation and stricter registration/compliance requirements, bookings have really dried up here and many are converting to longer-term rentals. 

I have about 10k-15k saved up and would love to get into wholesaling on market/mls properties (I know that approach is atypical but I think a cash offer with the right terms can go a long way even though the market here is becoming more saturated).True!

Google seems to be saturated with websites trying to get you to join their lending program (hard to trust). 

For example I have house hacking clients in Malibu doing STR and the city imposes a 15% gross income tax.The popular areas (Joshua Tree, Big Bear, etc.) from what I am hearing are over saturated.

The key is finding the areas / neighborhoods with strong rental rates that are not saturated with too many LTRs.

Do you believe the market may be saturated?

You'll want to saturate that subfloor with some enzymatic cleaner and possibly some odor blocking paint thereafter if it smells really bad. 

Yes, Florida seems saturated, but in any market you're going to have to beat out the competition, whether that's FL or GA or CA or wherever.