I would be VERY cautious purchasing an STR right now as I believe markets are starting to become saturated and believe the past two years were VERY good years for STRs and I don't know if that will continue.

Is my market over saturated for wholesaling?

You'll want to look for a market that has decent demand (50,000+ housing searches on the stats page) but isn't over-saturated with competition.

There's no fat to trim.  

Many markets are already saturated with airBNBs.

Is the storage market in your target area well served, saturated or under served?

I'd love to see an extremely lean government without all the "fat".

Your problem is that you live in CA so you're going to get a big fat bill from the FTB each year, so it depends on your income and risk tolerance as to what makes sense for you.

This leads me to believe that the market may be over saturated with wholesalers.

STRs do work around Denver, but you just need to navigate the regulations and find ways to differentiate your property as we do have high saturation.