How important is the 2% rule?

[Dustin Dummer]

Listening to Podcast and reading all the investment books from the real estate god's talk about the 2%. However it seems like those type investments with low purchase prices are difficult for new investors to pull off. I can see where wholesaler's might run across these opportunities or if I want to wait until that type of deal eventually comes along, but I don't want to wait. I want to make things happen. I've been running numbers on properties: I can see deals with $100 or more per month/per unit, greater than 12% ROI but a 1.29%-1.4% Income-Expense ratio. So how important is the 2% rule? If someone can drop some knowledge on this topic it would be greatly appreciated.