Acceptable Cash Flow/ROI by Geographic Region

[Shane Wike]

Curious to find out if investors living in higher cost regions of the country are satisfied with the same monthly cash flow even if the cost to purchase the property could be substantially higher depending on the geographic location?

Please consider the following simple scenario.  Two nearly identical properties available in different states.  First property in the Midwest valued at $150k and another in the northeast for $450k.  If the property in the Midwest clears $100 a month in cash flow would the same investor likely consider an acceptable cash flow need to be 2-3x more for the property in the northeast?

All other things being equal if the more expensive property ties up 2-3x more capital in the way of down payment, etc. does this investor expect (or look for) higher cash flow in order to reach the same ROI?