How do you determine a reasonable target return?

My strategy would be to target properties which are most likely of the owner NOT redeeming.

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

Targeted marketing would come via social media, which is usually priced on a $ per impression or $ per click basis.  

You have a far better chance trying to sell to an individual than targeting hedge funds.

If you're targeting Section 8 tenants in Chicago, I'd suggest listing at the fair market rent of $2000.

For those who’ve invested in Cleveland, is this a realistic target for multi-family units in the neighborhoods I’m looking at?

Currently being leased, but expect my total cash on cash return to be above the number I target.

Target neighborhoods like Brewerytown, Kensington, and Point Breeze, where demand and ARV potential are currently strong.Your skills in renovations will give you a significant edge in controlling costs and boosting returns.

I’m currently targeting properties in the $200K–$500K range, depending on the location and potential cash flow.