NASHVILLE - Here, on Day 2 of the winter meetings, the Rangers' self-imposed financial limitations fully revealed themselves.

The visual is perhaps best described by the poet laureates of Nashville, Hee Haw's Buck Owens and Roy Clark (and an occasional appearance from current Rangers PA announcer Chuck Morgan): "Doom, despair and agony."

Thanks to the limitations, the Rangers don't have the wherewithal to get involved at the top end of the free-agent market. Thanks to the hyper-inflated market, they don't have the prospects to give up in a trade for a controllable, but established, starter. They might not even have the money to take another run at Cliff Lee, and he hasn't pitched in 18 months.

Geez, they might not get Nick Tepesch, and though he hasn't pitched in 18 months either, he's definitely no Cliff Lee.

At this point, they can't even get Colby Lewis, who has been about the most loyal Rangers pitcher ever. While the Rangers remain in contact with Lewis, he would like a two-year deal. Given that Chris Young, who is the same age as Lewis (36) and has never had a 200-inning season (Lewis has had three), just got two years and $11.5 million, a two-year deal for Lewis can't be ruled out.

"We talked about bigger names that are under control, but I think that's unlikely," general manager Jon Daniels said Tuesday evening. "We've also talked about everything in between -- younger guys who can come in and compete, guys on one-year deals -- and nothing has materialized yet."

The Rangers, according to one major league source, have started to level down their focus to young, controllable pitchers who are more suited for the back end of the rotation and who may have minor league options remaining.

In other words: Think something more like the Ross Detwiler or Anthony Ranaudo acquisitions of last offseason rather than Yovani Gallardo. Detwiler and Ranaudo combined to go 0-6 last season with a 7.29 ERA in 21 games (nine starts) for the Rangers. They are not the kinds of numbers that inspire confidence.

"The value placed on top starters has been reflected on the rest of the market," Daniels said. "If you aren't willing to play at that level and you get into a trade, then you are kind of robbing Peter to pay Paul because teams that are willing to talk want guys from your major league roster in return. We will see if the prices eventually get met or not."

At the moment, the Rangers have only three locked-in starters for the beginning of the season: Cole Hamels, Derek Holland and Martin Perez. They expect Yu Darvish in mid- or late May. They are still hopeful Lewis will eventually re-sign. If so, Chi Chi Gonzalez and Nick Martinez would compete for the fifth spot along with Ranaudo, Phil Klein and anybody else the Rangers might add.

Lee, if healthy, is liable to get a major league deal, which would almost certainly eliminate the Rangers unless they don't sign Lewis. Mike Minor and Henderson Alvarez, free agents coming back from risky shoulder surgeries, are liable to get two-year deals, a risk the Rangers aren't anxious to take on.

Tepesch would be the perfect kind of guy to add to the competitive mix, but he became a free agent when the Rangers declined to offer him a contract last week. The club knows him. He would get a fresh voice in pitching coach Doug Brocail and an ally in bullpen coach Brad Holman, who worked with him at Triple-A in the past. And, most important, there would be opportunity.

Tepesch, however, is seeking other opportunities rather than a minor league deal with the Rangers.

"I think it's a good spot for Nick," Daniels said. "He'd be on equal footing with other guys for one spot in the rotation. But the fact he hasn't signed yet, I think makes it unlikely."

And so the Rangers will keep searching. For another Nick Tepesch.

On Twitter @Evan_P_Grant