New Investor looking for some guidance!

[Alex Park]

Hello everyone!  This site is wonderful and quite the educator.  I am currently in the process of finding my first single family residence to invest in as a buy and hold and am looking in the Ferndale region.  I am getting a good grasp at numbers, however I am unsure of what types of Cash on cash return and cap rate numbers I should be expecting a good deal to have in this region.  Does anyone have any advice for Ferndale, or should I look in regions such as Madison Heights?  Thank you for your time!

Alex