Durham multifamily - How much cash flow?

[Chris May]

I'm currently active in Bay Area, CA real estate investing, but prices have risen to a point where there's not any money to be made anymore following my usual MO.

My family has the opportunity to relocate to Durham, NC and I'd like to get going again there. In California, investing is usually focused on price appreciation, and cash flow is a secondary concern (and usually not possible). I think I need to change my approach in NC to align with the different market, but not sure what to expect.

What does a typical property cash flow? What percentage should I be expecting? For example, mortgage, taxes, and insurance are in the $1,000 range, how much should I cash flow for it to be a good investment?

Obviously this is a very generic question and property specific so I'm just looking for general thoughts from folks involved in the area.