What’s a decent Cap rate for Rentals

[Suhail Siddiqui]

Hi All, another newbie here in the Houston/Sugarland market. I am following Brandon's calculations to a tee but am having a really tough time finding a good deal. I am sticking to my calculations as I truly want this to be an investment (not hobby). Besides the 1% "rule of thumb" I am also looking at ROEC and CAP rates. What's a decent CAP rate for a single family rental?

Any other advice?