Cash on cash utility questions

[Luke Machen]

Hey all - I'm new to the RE investing game and have some (probably dumb) questions regarding cash on cash returns. As some background, I'm looking for turnkey or close to it and would be using a management company since I have a busy full time job. 

I was recently listening to a podcast and in this particular episode, the investor targeted CoC of >5%. Playing around with the deal analyzer on the website, it seems like this would be somewhat unheard of. In my market, median price for SFH is around 270K and median rent is ~1750K. Hypothetically, you'd need >2K rent on a 250K home to get more than 5% CoC (ballpark numbers with a few assumptions, mgmt fees, putting 30% down, etc), and it seems very unlikely this would exist where I'm looking.. Correspondingly I have a few questions

1. Are most of you including things like property insurance, etc in your CoC calculations?

2. If my goal is turnkey/buy and hold properties, should CoC really matter? Should I be prioritizing equity/appreciation?

3. I'm looking locally to start out (mid size city in North Carolina) - is the answer a different market?

Thanks in advance

-Luke