(Make sure occasional vacancy is part of your cash flow calculation.) 

If you don’t mind me asking, what type of coc returns would you expect on a retail or slightly under retail duplex purchase in these markets assuming reasonable allowances for management, vacancy, repairs/maintenance, capex, etc?

I also believe I won't have to budget much for vacancy with the current tenant, at least for a few years (albeit stuff does happen).

This does not protect against vacancy, but protects in case the home is damaged to the point that the tenant is displaced.

They take care of vacancies, repairs and and vet all potential tenants.  

The goal is to hopefully buy my first property where I'm at first though because my market is very good right now, and we have low vacancy rates on rentals. 

I only have one rental property, a condo that cash flows at 160$ and with Cash on Cash ROI of 12.6%I recently bought another property that cash flows at 200$ but had Cash on Cash ROI of 5.6%I thought I had more cash flow, but after watching the last webinar, I set aside more money for the other things that Brandon stated and I guess my cash flow was a lot lower :( I thought I was cash flowing at 450$ a month, but I wasn't putting things aside for CapEx, maintenance, vacancy, etc.Anyway, I don't mean to vent.

Basically, I am using 10% of the current potential income as the vacancy rate and 55% of the rest as repairs and maintenance, i.e., NOI = current_potential_income * 90% * (100%-55%).

It's a starting point, then you add in maintenance, vacancy, managementAnd my cash on cash yearly return has to be between 8-10%.

Also, don't expect to be pocketing money at the end of the month because what little cash flow you have will go into an account for repairs/maintenance/vacancy/unknowns.