1% Rule with Today's House Prices

[Alex Smith]

I am actively searching for a rental property investment in the Charlotte, NC area. As much as I would love to do the BRRRR tactic, I am not confident in my rehabbing abilities and am just looking to go with either a ready to move in, or one that needs minimal repairs. I am only looking for houses newer than 1980 to avoid any lead paint issues.

Anyway, I have read much about the 1% "Rule", but there just doesn't seem to be any houses that could qualify for that due to the prices. For example, many houses are going for 200k, but only would rent for (Maybe) $1400.  Is anyone else experiencing this? The best deal I've found is a 160k house with a rental potential of $1250. What are your thoughts on this?