Is 12% COC reasonable in the greater Tampa Bay, FL area?

[Phillip Rosin]

While evaluating duplexes and single family homes in the Tampa Bay, FL area (From Clearwater/St Pete out to Lakeland), I've received feedback from a local agent that finding a property yielding a 12% COC return in the greater Tampa Bay (Florida) area is unrealistic. I've watched many of the webinars where it is repeated that 12% COC return is generally the minimum you want, along with at least $100/door in cash flow (Though I'm targeting 200+). Being new to REI, I'm unsure if this is true, and what they say in the webinars is only limited to certain areas and/or limited to ideal markets... Or, is it reasonable to look for these deals and perhaps they're not wanting to put in the time with me to find these deals or they have just been unable to find them? I'm in no rush and my target is 2-3 properties this year, depending on price point. Should I consider lowering my expectations for COC returns, or should I continue to evaluate properties, as suggested in the webinars, until I find one that meets that criteria? I understand that every deal is unique and there can be other variables to consider, so this is just an 'in general' type question. Thanks!

[Sam B.]

12% CoC is high in this market and a good rule of thumb is not to believe anything you hear from anonymous real estate investors on the internet.

You're not going to get under 25% down non-oo on a multi at anywhere near ~5% for 30 years fixed. 90% of lenders follow Fannie/Freddie guidelines, those who don't charge extra or shorten terms to make up for it.