What is a realistic cap rate/CoC for off market deals?

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I am looking to buy distressed multifamily deals all cash. My method of finding these deals are mailers and MLS. However, i do not know what a common cap rate or cash-on-cash return is for off market deals. I am looking into the Texas market and don't want to spend two plus years searching for a single deal because i have an unrealistic expectation for returns. 7%+ cap rate is what i'm using as a benchmark. I would love an investor's perspective on what they look for and how they structure their deals in terms financing and cash on cash returns.