Pros and cons of 70 percent rule any surprises as well

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Good evening, I'm new to bigger pockets and real estate. I have no experience and have been reading books and listening to pod cast. I have a question as to the 70 Percent rule. How accurate is it? I know it is used as a guideline and is not set in stone but is there anything that has really deterred anyone from doing it or something that a beginner might miss or not know of? Any feed back or suggestions are greatly appreciate.