Cash flow is possible but for an average investor, it is very difficult for returns to benchmark.

so that becomes your benchmark for the COC calculation. 

Tools like SWOT analysis and competitive benchmarking provide insights into the competitive landscape.Demographic StudiesAnalyze demographic data to understand consumer behavior and preferences.

I don't think I'll be ready for a couple months yet to buy, but I'm looking for some concrete answers so I know what benchmarks I need to hit in order to move forward in a purchase.

If you are in the Boise area, call Dean Tucker with Benchmark Mortgage. 

So, for me that benchmark is useful as a quick way to help determine whether to put more work into analysis etc or not.

@Tiia Hyrske, the common benchmark is GROSS income 3x rent.

This can be a handy benchmark when you’re trying to gauge the strength of different rental markets.

Note that appreciation cannot work as benchmark in high cash flow markets any more than cash flow works well in appreciating markets.  

Not just friendly but one who prepares them to run your processes with clear expectations and benchmarks for success.