First, you need to be very, very careful given your brokerage relationship (and license). 

Just takes more work and building relationships. 

I tell all my tenants and applicants that I have 2 rules that if they follow, we will have a great relationship. 1) They pay on time. 2) They never lie to me. 

I also want someone i can keep going back to that I have a good relationship that’s goig to respond to me and value my business.

In the right cities, we have excellent appreciation rates and rental income rates. 

At the end of the day it's about relationships...and you and the lender need to agree on what kind of relationship you're going to have.

I don't want to lie because I'm looking to build relationships so I can continue to do this far into the future. 

One is that the housing market in this area is so hot, it seems like getting into it now is an excellent way to spend a lot of money on learning and doing rehab's, only to have the market cool off before I can really capitalize on what I've learned.

If you want a specific CoC return @Justin Fox gave you an easy way to set a CF goal.If it were me, I'd figure out my goal and throw the relevant data (rate, appraised value, LTV, Op Data ect) into excel and have a data table show me what my CF looked like under different circumstances (ie. varying combinations of LTV and desired return) Then, assuming I had its modeled out, I'd do the same for IRR. 

*This post does not create an attorney-client or CPA-Client relationship.