Starting point for determining good deals

[Kevin Phu]

For the sake of discussion and practice, say I pick a property that I see is listed. How should I go about starting to determine if it is a good deal or not? Do you guys follow a specific check list and then dig deeper from there? If so, what does you checklist/criterias look like?

I feel that it is a very important skill to be able to analyze deals before even making the next step into procuring financing. Your opinions?