This is a great place to live and invest, although the market is incredibly competitive right now.

welcome @Steven Sandoval and to help you with your wholesaling venture here's a blog post I wrote on BP that mentions two ways to stand out as a wholesaler:http://beta.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

Might be helpful as you are studying on the best path to take. http://www.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

You guys are on track to slaughter the competition :D

I’m having a hard time adjusting to this competitive market we are in and would like some insight as to how to structure our offers to get accepted.

My biggest concern is using the correct formula so that I can market a fair and competitive price to my buyers.

Competition can be tight but as a flipper you can't beat this market for selling. 

Pros- less competition because you need to pay all cash. 

The market is very competitive and I have considered looking for deals around riverside and San Bernardino.

With the housing meltdown, the property value is down and so I cannot even sell without taking a hit, plus renting has become harder and there is a lot of pressure to reduce rent etc...So this strategy will enable me to have more flexibility on being competitive on the rent i charge which I reduce to attract stronger tenants, without taking a loss on my monthly rent cashflow...I was looking at all the options given my circumstances etc...Please advice as I am new to all this...What do others do in my scenario...thanks