Importance of cash flow vs cash-on-cash ROI

[Eric T.]

Hi all, 

Brandon Turner mentioned in a webinar that he typically looks for properties that will meet BOTH a certain minimum cash flow amount and cash-on-cash ROI. For example, when it comes to single family homes, he'd like to see at least $200 cash flow and 10 - 12% COCROI.

What's the importance of meeting both of these criteria? What if you find a deal that has 20% COCROI but the cash flow is only $50? Does the cash flow matter much if your COCROI is super high?