Multiplex will generally meet 2% type rules easier.
Some properties I've personally bought (all SFR) that meet the 1% or 2% rule:
33k with closing, no rehab, rented for 750.
58k with closing, 3 rehab, rented for 1000.
68k with closing, 2 rehab, rented for 1350.
72k with closing, no rehab, rented for 1100.
38k with closing, 2 rehab, rented for 875.
37 with closing, 9 rehab, rented for 1050.
One I passed on to a friend:
Duplex, 42k with closing costs, 9k rehab. Each side is rented for 700.
however I have never really heard from anyone who's actually snagged a solid "2% rule" or better property
That surprises me. Have you talked with real investors? Do you attend your local REIA meetups? I know tons of people who have bought some.
Like I said though, the multiplexes generally hit it a lot easier, 2-3%, especially if the rent is around 500 +/- 50-100.
I generally prefer rents in the 700 and up range for the tenant quality (and most are 900 and up), I find once you get down to the 500 range it's not as good of pickings. But some like to play there, and to each his own. :)