duplex long term rental in rural vacation area

[Theodore Tongue]

I am looking to make my first purchase of a vacant duplex in a rural coastal community in Michigan(winter population 6,600/summer over 20k). First problem that I am working through is the knob and tube electrical in the attic(on top of insulation). Right now I am waiting for a quote from an electrician. Its been nearly 20 days and my realtor and I are still waiting on one to be available to make the quote happen. Mean while, the market of rentals in the small town went from two to about 10 all within the price range we want to rent(~$600). They are all posted on facebook market place. When I check craigslist and rental sites I only see a couple. Should I be worried about the amount of available rentals on FB or does it not matter? Because I am possibly getting the place for around 75k, I feel like it wont be hard meeting the 1% rule. Though the price of the rentals being so cheap makes me wonder if I will get bad tenants in there. Any advice would truly be appreciated.