2% rule in expensive markets

[Hanan K.]

Hi Everyone. I'm a somewhat of a newbie (own 2 SFR in Northern CA) looking to invest in my local market. My question is: Does the 2% rule apply in expensive markets (such as Northern California). It seems to me that the 2% rule takes repairs and vacancy into account but my market has virtually 0-2% vacancy rates and the homes I'm looking at are in good shape. We are also very handy and able to handle many repairs on our own. I would highly appreciate any feedback. Thank you!