i want  to start with new rehabbing projects in nor cal, can somebody guide me in which area i can find good inventory ?    Here are a few choices: Fresno , Sacramento ? 

Vacaville, porterville, Clearlake, Elk Grove, Hanford, hollister. They are still competive too.

Porterville?  Is this a good market?  Do they have many employment opportunities in Porterville?

you can find good stuff in fresno 

clearlake is a nice market....  But you better go look at your properties, to inspect the .... wildlife..  neighborhood by neighborhood there at a minimum... and some is block by block.  Let alone you wont find a contractor there for 5 years with a couple thousand houses in sonoma just burning.

@Jay P. There are other areas in lake county beside clearlake. Such as Middletown, Kelseyville and Lowerlake. Also look In Shasta county, such as Redding.

Skip coastal towns with jobs within 100 miles. Their inventory is 8% of 2009 or 35% less than a year ago.  Fresno has some most got multiple offers also.

Fresno has been really good to me when it comes to value add, i highly recommend it. 

The prices of homes in Porterville are some of the cheapest in the Central Valley if that’s your main concern