Lack of BRRRR opportunities in my <150K budget

[Brandon Shim]

I'm looking for BRRRR opportunities and am finding that I can't find any on Zillow that meet my criteria. Are opportunities scarce right now in my price range? Is my method/criteria flawed? Should I expect significantly better properties if I had an agent in the area?

Criteria/Method:

1. Cost of property + Estimated Rehab costs < 150K, I'm ball parking rehab costs at 25% of Cost of Property

2. Estimated ARV * 75% > Cost of Property + Estimated Rehab costs (Cash out Refi)

3. Somewhere around 1% rule. If Zillow is near it, I'll use Rentometer

4. Not in a red crime area according to CrimeGrade.org

Am I just looking for the needle in the haystack that everyone else is looking for/grabbing? I've spent time looking at a lot of areas in the Midwest and South so far.

Edit: I'm doing all of the above to see if which area I should target