Purchasing Investment Properties at 70% of FMV??

[Timur Medaric]

Investors seem to throw out the 70% rule as a standard in purchasing investment properties. I understand that it varies by markets, but as markets continue to get more saturated and more competitive, is it fair to say that the 70% rule might be an outdated, over-generalized benchmark? Especially considering the dynamic and organic nature of these types of markets...