Is it reasonable to expect a 15% ROI return in Miami/FortL area?

[Oded Levy]

Hi guys, 

Anybody here is familiar with the Miami/FortLauderdala area? After understanding the hard truth that I might have a problem finanacing my deal with conventional mortgages (Due to the fact im a Foreign investor), I realized I will have to relay on cash deals :(. Anyway the question is: 

Is it reasnoble to expect a minimum of net 15% ROI on a rental property investment in the Miami/FortLauderdala area in cash deal? or is that to good to be true. 

For example: 

Home Sales Price: $80K

Yearly net cash flow: $12K

Monthly rent (Net Income): $1000 

Is that reasonable? 

Thanks