Too good to be true?

[John Roeder]

Looking at the equity in my primary residence Im wondering if what I see is too good to be true. Short and simple but without the pertinent details...

The setup:

Due to great appreciation during the last few years in the Orange County, Ca market, I now have approx. $300k in equity in my primary residence. 

The big question:

Is a 10-15% CoC return with a rental property obtainable? If it is realistic, then i am wondering if it would be a good idea to sell my house and invest the approx $300k in rental properties at 10-15% (2500-3750/mo return) I could theoretically live mortgage free as the investments would pay the mortgage for my next primary residence.

I ask because I am about to purchase my first rental (out of my savings) and per my numbers the 10-15% seems easily obtainable, but since I dont have the 1st hand experience yet, I am wondering if I am I missing something.

Could this work??