There is a lot of luck, no doubt, but there are still good titles out there. In the past 6 months, I just missed on a few nice titles on my local (St Louis) Craigslist. I work out of my house and try to check 2-3 times a day when I'm taking a break.
Last Saturday, saw this King of Diamonds for $100. I was the first caller and brought it home that afternoon.
I already have a KOD sample version but this one will be nicer when cleaned up so my other one will go back into circulation. I'm far from a flipper (I've had that KOD for 5 years and did full shop out), I'll sell it for what I paid + the parts I put in it. No more.