Cash on Cash Question

[Michael Krassos]

I'm working with a turn-key provider to prodie SFH for rentals, who basis his Cash on Cash on total investment made, i.e. including all closing costs along with down payment toward mortgage. I've seen on this site however that many suggest only basing it on equity down only.

I assume there is no standard, any guidance appreciated as I decided on certain %'s in different areas to determine good investment candidates.