10% Rule. Is anyone seeing this return?

[Mindy Nicol]

An investor told me he is only interested in properties that could return 10% (10% rule) as a long term rental. (not short term).

Does this even exist anymore?  Our market has changed so much.  Nobody is getting $3K a month, for a $300K home, for example

Is anyone seeing this on LT rentals that you are purchasing now? If so, where?

[Carini Rochester]

@JD Martin "really doesn't mean much" so true! @Jake Andronico "Expenses" 

In my market, Rochester, NY, I need 1.5% to 2% to not go bankrupt. High real estate taxes and older homes requiring a lot of repair and maintenance. OP, Is anyone seeing 1%? Yes. I am, and more. And it's wiped out by the higher costs mentioned. 
@Jake Andronico