Cash on Cash for first rental

[Julia Brantley]

My husband and I are looking to go in on our first buy-and-hold rental. I've been hearing and reading different things about Cash on Cash ROI and what constitutes a "good enough" return. My husband has a co-worker that says he springs for 8-12% (but he is in another state), while I have contacts that invest in my area (metro-Atlanta) saying 5-6% is good. Then, on BP forums, we are reading about people that won't go in on anything below 20%!?

We've identified our potential property (townhome) and are speaking with the owner. Right now, we have our incomes / expenses projected fairly conservative and are getting a 6% CoC ROI. I've attached the BP analysis for reference.

With our confusion around what is "good enough" CoC, we're posting here in hopes that the BP crowd can provide us some clarity. Thanks!