Also a new first time investor here in Southern California following this because I am interested in pre foreclosures and foreclosures as well.

A client of mine utilized it for a rental he owns in Carlsbad NM and he lives in Southern Oregon.

I am down in Southern California and invest out of state but am from Sacramento originally.

I would check out the Southern Orchards area.

I started with my primary and currently working on saving some capital to buy an investment property either in southern California or out of state still trying to figure it out.

TL;DR Should I wholesale or get a real estate license in Southern California with respect to an effort/payoff perspective knowing that it's a very hot market?

In Southern California where home values are very high, being a listing agent will create more income, faster than wholesaling will.

@Khai Quach I have several names for CPAs for you in San Diego and Southern California. 

So if you can pick a location that hosts such year-round activities, I think you’d have a better chance of maximizing the short-term rental possibilities.I live in southern NH, too far from the lakes and mountains to have any expertise.

@Rod Israel I would love to take a look and make a cash offer.