Higher returns typically come with higher risks.  12% on a rental property will probably be in lower quality neighborhoods, like B- or C, and most savvy investors will sharpen their stick enough to start poking holes in how that 12% shakes out.  

Do some basic internet research and see what cities/markets fit your investment plan and then contact an agent for help.

Haven't seen a deal in some time that fits the formula (outside the hood) but that time WILL come again.For this point in the cycle we focus on stabilized, high quality assets with in place income and very little risk. 

$250K ARV - $140 Purchase - $25K Rehab = $85k - $15k Commissions = $70KCarrying costs, utilities, taxes etc will lessen your profit, but it fits the (70% of ARV - Repairs) formula in terms of purchase price.Can you get it for less that $140k?

Drive various neighborhoods. 

Both doors were kicked open when I walked it, weeds 6' tall, house next door is already demolished and the neighborhood is in the Hood of the Hood.

Michael,Welcome (belated) to the neighborhood! 

Investors love working with her because she's very insightful, but also really understands your goals, and does not waste your time showing homes that don't fit your criteria.

This is in what I’d call about an an A- or B+ neighborhood, in lower income neighborhoods perhaps people wait longer I am not sure. 

I say possibly because the particular neighborhood has some pretty wild price swings on seemingly comparable houses (I mean swings of 100% ore more!).