If you violate any of these rules you could blow up your IRA or 401k and the IRS could force you to distribute all of the assets in the IRA or 401k.

Be sure to read the rules located in the footer of every page. 

@Robby Sanchez rules of thumb don't work, as others here have stated. 

There is a rule.  

If you hired an agent or a broker to work with you, you'd be covered - but regulations & laws vary from place to place.Screening is best done by establishing a set of guidelines to qualify applicant tenants, then sticking to those rules to avoid legal issues (and for your own sanity).

I'm not an attorney, I haven't been hired to litigate damages and go back and fourth trying to prove or disprove who knew what when. 

Mind Excess Business Loss Rules.

You might also want to consult local property managers or rental market reports for a more accurate picture.When it comes to estimating CapEx during preliminary analysis, without visiting the property, you can use a general rule based on the property’s age and condition.

Sounds like if you know and follow the rules you should not only be OK but pretty well insulated from competition (people swarming in and oversaturating)

You can hit the 2% rule if done right.