Secondly I would tell you to look outside of California to buy a investment property to stretch your cash and increase your ROI.

STRETCH somewhat to get to the NEXT level, but a huge stretch is probably going to be a waste of time.   

Looking for something under 2 million at this point but I could stretch for the right deal.

It's a stretch but with stable income you'll have options to remodel what you can afford it. 

One acre with a fixer upper is currently around $400k-$500k+ and the monthly payment for that amount just stretches us too thin right now.

And we need to stretch it and see if we can match our salaries. 

I have around $15,000 in the bank which could afford a 3.5% down-payment, but closing costs and the first few months rent could be a stretch as my job hasn't started yet (The home would still be under construction so its possible I could achieve W2 income before actually paying a mortgage?).

It seems to be a combination of wholesale becoming more popular (and competitive so upwards pricing pressure) and with more investors in the market, wholesalers are stretching deals to maximize profit.

I understand you need to manage the PM and rehab, but it is really a stretch to believe you are spending 3 hours every day on this.

I talk to many west-coast investors who invest with us and independently in the region, their dollar stretches a lot farther.