Have someone do a walk through with you holding a ruler, etc. so you can photograph the size of damages, holes, flooring scars, etc.

Over time, with experience in whatever you do, that will become the ruler to justify paying yourself more.

Is the 70% rule really applicable in the Springfield Mo area?

I think you are confusing the 50% rule with the 2% rule. Rent

A wise ruler once wrote:  The rich rules over the poor, And the borrower becomes the lender's slave. 

Lets review the rules in order to see if it was a good deal:50% rule - 50% of gross income should go towards expenses minus mortgage paymentExpenses include:Property InsuranceProperty TaxesMaintenance/RepairsUtilitiesProperty Management                You have no mortgage pmt since you paid cash so that is a plus                $10,800 annual income * 50% = $5,400Based off 50% rule its a deal.lets try the 10% rule - Annual rent / purchase costs 10,800/35000 = 30.85%Based on 10% rule its a stealNow lets try the 1% rulerent/purchase price*100900/35000*100 = 2.57%You found a deal.Remember that much of the expenses other than the tax interest can be tax deducted.Great Find 😁

If they don't.... well if you read any of my other things on PM I speak of my philosophy of management called an "Iron Fist in a Velvet Glove", the soft approach doesn't work, than it's all Iron Fist, and I mean that in the most tyrannical ruler means possible, the only measure I have stronger than that is when I call up the lawyer which we refer to as "The Hand of God" because thats the level of destruction she can bring down. 

Another thing, I’m not seeing the 1% rule really applying in this market on other homes either so I’m curious to know how important it is!

First things first...bubble gum, paper clip and a swiss army knife...if you can't MacGyver a solution with that, you're not ready to call yourself a handyman, oops I meant handyperson(aka Jedi Master, ruler of the world, smartest person in the room, boss, etc)Oh yeah, I forgot a twelve pack of your favorite cheap beer.Haha...really, a good Leatherman multi-tool is invaluable and will do most easy work, and can be part of your "everyday carry".$80And then it depends what you will do and what you like to do.

It is important to let them know about Pace and his Hamas like organization.