I have raised capital in the past from different investors securing funds in different ways. Are most investors comfortable with 12% annually? I would like to here from the group whether they offer or are offered lower or higher returns. Thanks for the input.

It totally depends on the investor. It can range from 4% to 18% or more. 

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.  

@Joseph Dimaria agree with what @Ned Carey said. Expected rate to return will depend on Investors Strategy independent to project. If someone says i want to protect my money from inflation then you offer them 4% and they would love you ... typically they are large ones. On the other extreme, investors to make high return to make living (i.e. BP investors) ... would expect  more than 15%-20% return.  At the end , its a negotiating position among syndicator and investors.