What's your target Cash on Cash %?

[Michael Buckland]

One of my goals for 2015 is to buy my first Buy and Hold Rental property. Given the high amount of SFH in in the Minneapolis/St. Paul Metro Area, that's the niche I'm leaning towards.

While I realize each geographic market is vastly different in terms of acceptable cash on cash returns, I'm curious for what benchmarks or rules you have set for your business to ensure long term financial success.

For example, I evaluating a property right now with 11.86% Cash on Cash and that includes 10% vacancy, 12% PM, 5% Cap Ex and 10% Repairs. 

Thanks in advance!

"Still wet behind the ears" Mike in Minnesota :)