What makes a good deal?

[Quentin Mitchell]

This could mean different things to different people and I think certain factors affect whether or not something is a good deal or not, experience (a good deal for a newbie is different to seasoned investor), location ( a good deal in California could be a horrible deal in Indiana), strategy ( a deal could be bad for a flip, but really good for a rental), skillset ( someone who is handy can save more money on labor opposed to someone that doesn't know anything about handy work, also someone that can manage properties opposed to someone who isn't cut out for it, etc). Funds ( who you can afford a down payment or have the cash to offer to lower to price or a good reserves for the repairs opposed to someone with no capital or access to capital.

With that being said what makes a good deal for you?