Multi-Family Cap Rate in Florida (Broward County)

Hi there BP,

So I have done A TON of homework in the world of REI and I am 110% that Multi-Family is where I want to be! I have looked at the whole MF vs. SFR and I know we can go back and forth on both all day, but I am young and everything to me right now is cash flow and I see myself investing in the SFR in the future, but for right now MF all the way!

That being said, I have researched Multi-Family properties extensively and though I have found some AMAZING deals in other parts of the country (and in other parts of Florida as well) but being a novice investor I definitely want to invest in my backyard first. So for me that is Broward County, I would be willing to extend as far as the tri-county area (Palm, Broward & Dade). 

My question to the community (sorry for making you read all that) is, are there any investors in these areas getting a cap rate of 12-15% yr.? Am I aiming too high? I know some people don't invest in less than 2% (24%/yr.) which would be amazing, but given the nature of Florida I am looking for 15%, I would go no less than 12% including all expenses. Is this possible in these areas? 

Lastly, what is the best way about finding these properties? I was thinking of using direct-mail find that I'd rather pay a wholesaler $3-$5k and get a guaranteed deal versus spending $2-$3k and possibly getting none. I would love to hear the thoughts of the community on this. Thanks. 

Best Regards,

Dexter