The 70% Rule

[Julian Buick]

The 70% rule of thumb seems like a great way of determining how much to purchase a house for. 

How many people that use the 70% rule actually achieve the 70% rule once the rehab has been done and the house has sold? In other words, how many people actually sell the house for 100/70 times the (purchase price + expenses).

Should the expenses include realtors fees and holding costs?