Minimum cash on cash return

[Brandon Heimsoth]

I'm looking for multi-families in the St. Louis area and still haven't found my first deal yet. I'm wondering--what is the minimum cash on cash return you look for. In my analysis, I'm assuming a 30 year loan with 25% down, 10% for vacancy, 10% for property management, 10% for repairs, and 5% capex (+ water/sewer, garbage, lawn care, and insurance). I was initially shooting for 10% but maybe that is unrealistic. I've seen a few at 7-8% but a lot are even negative. I'm looking in C neighborhoods.