CoC ROI below 4% everytime

[Ricky Malott]

Hi all,
First post here....
I own a rental property in my area and I am looking to buy a second. I thought I was happy with my ROI around 3.5% for my 2/2 condo but as I continue to read books it says I should be closer to 7-10%. Is this a real number? I have analyzed about 100 properties in the past month and nothing gets an ROI higher than 4%.
Quick background - I live in Southern California and I am looking to purchase either a 2/2 condo or a small 3/2 single family house. Ideal spend is $400-$650k.

Is Southern California just a death trap for ROI and people get rich here with appreciation only?

Thanks for the feedback

[Brent Coombs]

@Ricky Malott, but remember, "past performance is no guarantee of future results"...