Go through her unit, take lots of photos of the damage-include a ruler when taking photos of the holes in walls for scale. 

NAR's rule really doesn't impact me because I'm a principal in all my transactions and I will simply add my properties to the MLS, then make showings by appointment only (and I get to choose when and if I make an appointment) until I get ready to release it to buyer agents.

I work with a team on HML on the west coast that love my program.. but we come in as equity not a lender.. so if your looking to take a deal that you would other wise miss and happy to have an equity partner we can talk about that.. but I think that's as far as I can go on the open forum without getting my knuckles hit with a ruler from the mods.. and if its not me you can I think easily find someone else to do this as opposed to going through the DHM process. 

But Dan, that means you agree with Eric, the 1% rule (rent to price ratios) isn’t a useful comaparison across different markets, and that was his point.

Fire engines are red because 2+2=4, 4+4=8, and 8+4=12There are 12 inches in a ruler; queen mary was a rulerQueen Mary was also a ship; ships sail the seasSeas have fish; fish have finsThe Fins fought the RussiansRussians are red and fire engines are always rushinTherefor - fire engines are red

In a market like southern California where the cap rates are for the most part under 5% it has been very difficult for me to find any type of MF property that meets the 1% rule (rents being at least 1% of purchase price).Should I just keep looking until I find the needle in the haystack or are there other criteria that is more important when trying to invest in a cash flowing buy and hold investment property? 

Welcome Hamas.

Could someone explain a little bit more in depth what the 70% rule really means and why they suggest you buy a house with this rule minus your repairs?

I first heard the 70% rule (really more of a guide) from Ron LeGrand back in the late 90's when I started investing.

Preferably photos with a small ruler to show the scale of the damages. 3.