Where can I BRRRR out of state?

[Chris Tiller]

I've been searching to start up this strategy again. I've been looking in Memphis, ATL, and some other mid-markets. I'm finding wholesalers with inventory but the valuations aren't leaving room for the re-fi. The common situation is wholesale at $70k, needs $30k in rehab, worth $100k ARV. BRRRR obviously doesn't work with this. What am I missing? To BRRRR do I need to essentially start a "we buy houses" business or are these the wrong wholesalers? Interesting because this has been consistent across markets, not just one city.