Or should I form an LLC and work on getting seller leads?

That leads to "hoarding cash" either in a checking account or in equity, because rule #1 of investing is don't lose capital.So I propose an Option D: Invest $100 in something you think is worth $120, but was worth $100 and it corrects to $75; you still get a 6% return, but now you need to pay to add value, which gets you to $100.

You have already gotten some great responses but one thing that hasn’t been asked is since you got your license and I assume want to work in real estate in CA, why would you not start networking there and scouring the MLS for good leads?  

How would someone go about wholesaling these leads?

Already marketing and looking for leads in NJ and CT.. does anyone know a way to get MLS access in these states?

Well I am officially connecting with brokers and trying to build my lead funnel.

But before that program was established, one of the neighborhood associations took the bull by the horns and offered a $100 reward for information leading to the arrest and conviction of a graffiti artist.

They in turn lead me to a third property.  

The next thing I do is make a note of any long lead time items that I may need to get ordered in a timely fashion such as granite and a custom sized door.

Direct mail is still my lead generator and I'm getting about 0.7% callback rate.