iptables applies rules in order. fisrt rule is applied firstly. so if the first rule blocks network traffic, everything will be blocked. it doesnt matter what other rules says.
i prefer DROP as default policy for INPUT chain, then open neccessary ports or allow certain networks. this is a good idea. so other possibilities will be blocked by the default. it will also be easy to open a ports.
Code:
iptables -F INPUT
iptables -P INPUT DROP
iptables -A INPUT -i lo -j ACCPET
iptables -A INPUT -i $local_interface -s $local_net -j ACCEPT
iptables -A INPUT -p tcp -m mulitport --dport $allowed_port1,$allowed_port2,$allowed_port(x) -j ACCEPT
good luck.