Is the 70% rule relevant as a quick screen tool for BRRRR investing or is that only to be used in fix and flips? 

Some relevant details:Located in a small, rural community2 family, side by side unitsLow cost/high rent (2% rule applies) areaPotential risks include: limited tenant base, tenant issuesMy inclination is to sell and move on, as it will take significant time/capital to get it back in good, rentable condition.

Schedule tours and ask them to make offers.The same approach applies to my 350,000sf warehouse project or the 1,000sf small user space.If you have the time and energy and willing to make the effort, you can do it. 

Will I ask the county to inspect it before the sale or would I read the rules and regs on my own before purchase, then work it out with the inspectors afterwards?

The IRS website mentioned something about applying to switch back to a corporation status instead of being a Partnership.  

The only option would be to take taxable distributions from the IRA.IRS rules prohibit any self-dealing or personal benefit from the IRA.

I would not presume to advise you on what you should do, but if it were me, I would address the source of moisture, remove all affected soft surfaces and treat all other areas with a 50/50 bleach/water, let dry and apply at least one more time.

.$1,737/month on a $3,000 rent sounds really great to me, I don't think you want to jump out because of the 50% rule with those numbers.Your main concern is getting the project done fast and getting renters in there.

For duplexes, I remember seeing a couple properties pop up last week around there in the $180k asking range with market rents that may get you to the 1% rule.

Upon sale of a property depreciation recapture applies to the amount allowed or allowable meaning if you didn't take depreciation you will still have to pay the recapture on what you could've taken.