Depending on how tight your market is, you may be able to slightly break the 70% Rule because it's nothing set in stone - just a good measuring stick. 

Would you recommend I consider that as a newbie, or really try to stick locally for my first investment?

The best landlords are FAIR and stick to a lease that protects both the tenants, and owners.Don't let tenants walk all over you, and don't walk all over your tenants.Charging market rent is the fair thing to do.

Stick to your lease.

Don't feel obligated to stick to the first rent you advertised.

Stick with it.Kyle Cluff

Point is, stick to where you can keep a team and do good management.

Be careful of who you're listening to out there, because just as we've seen Curt sticking strong to so many points of misinformation, there are TONS out there who "heard from somebody" certain things about Dodd-Frank that just aren't true.

On the really low end of the stick properties that need repair are selling in the 70 to 80000's.

succinctly put @Matt Devincenzo.So far I have been sticking to one investment strategy.