Excellent set of posts here.Cash on cash return will vary greatly depending on what city and type of property you are buying.  50K house vs 1M apartment building, downtown Detroit vs Royal Oak vs BirminghamCash on cash is a great way to compare a group of properties to make sure you pick the best one and to make sure that your money is working hard for you like Joe mentioned.With that said, I like to see at least 12% cash on cash, 25% ROI when you add loan principle paydown, and some sort of value add to increase the cash on cash (below market rents, above market expenses, etc.) 

Overall though, I'd say there are few places where you're going to have a dead body falling through the roof hahaha.It comes down to two investing principles: 1) Risk vs.

Why are they marketing it to out-of-town investors and trying to sell sight-unseen?

Take out enough so you have extra to pay of the principle for the next three months.

Short-sighted folks!  

Setting my sights to buying rental property, closing on a 4 plex in Dec and just bought a cheap single!

I am not currently nearby so I would have to purchase the house sight unseen, but I have family members that are experienced investors who have gone over to take a look at the house.

I look forward to helping other BP members in the surrounding area who are short on time accomplish their REI goals in exchange for education and eventually partnering to forward my own real estate goals (This is principle from "Rich Dad, Poor Dad) .

It's about the principles.

I consider this a long term investment: possible retirement home for my parents, my first home in 5-7 years to start a family (I am 23 currently), or another investment property after i pay down the principle on the mortgage.