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my thought is, have a main project with 2 stacks underneath (vpc-stack and iam-stack).  each of those is a different git branch.  have a folder under the git project root directory for vpc-stack and iam-stack, then use the `-C` option of `pulumi up` to create/update just that stack.

We've got a great article on what we think are best practices here: <https://www.pulumi.com/docs/guides/organizing-projects-stacks/|https://www.pulumi.com/docs/guides/organizing-projects-stacks/>

Obviously your mileage may vary but it's probably a good start