Getting any surplus from a sale is the proverbial needle in the haystack.

In a market like southern California where the cap rates are for the most part under 5% it has been very difficult for me to find any type of MF property that meets the 1% rule (rents being at least 1% of purchase price).Should I just keep looking until I find the needle in the haystack or are there other criteria that is more important when trying to invest in a cash flowing buy and hold investment property? 

It seems finding a real wholesaler is like finding a needle in a haystack. 

well turns out my needle in the haystack buyer just got the golden parachute from Precision die cast (retired CEO) he had been eyeballing it the whole time we were remodeling it.. we did a 1.5 million in finish work.. so you can imagine the quality and he wanted that home.. first day on market boom sold... and like any red blooded American broker day it closed I bought an airplane  LOL>.

If you are driving around San Francisco, San Jose, Berkeley, etc. then it's like looking for a needle in the hay stack. 

I don't think there is anything you are doing wrong in particular, you just have to look harder to find the needle in the haystack.

Looking for MF in Lee Summit or any A class area is like looking for a needle in a hay stack.

Once you understand what your market typically offers it is easy to see the needle in the hay stack deal.

Finding a good and legit wholesaler is like finding a needle in a haystack.

Sure, you can find the one in a million proverbial needle in the haystack but let's be realistic, your scenario is what's possible while mine is what is probable.