Help with calculating a good deal

[James Lopes]

Hi all

I am beginner and looking for my first deal. I have been listening to the BP podcasts and have downloaded a few spreadsheets to determine COC and Cap rates, but when i use the following criteria that i heard on a BP podcast to eval a MF, i have yet to find a positive COC, or marginal COC! (i live in NJ and have been looking local, but have also tried some in other states)

I use the following criteria below- any advice to adjust the numbers would be helpful...thanks

10% repairs & Maintenance

5% vacancy

7%Capital expenditures

10% management fees