Do you apply the 2% rule to single family home purchases?

[Aaron Cohen]

I've been evaluating a lot of single family homes to purchase and rent out.  When I run the numbers with the 2% rule they are exponentially off base with the market rents in the community and town.  New to the 2% rule, but thought maybe it is more directly related to multi-unit communities.  Any insight would be greatly appreciated.

Thanks,

Aaron