What do you consider to be a deal?

[Douglas Johnson]

In beginning my real estate investing journey I have been spending time looking at listings and trying to work out what my criteria should be for pulling the trigger on an investment property. For example having an IRR of over X percent or a cap rate of over X percent. I am curious about what metrics everyone else uses to figure out what makes something a deal for them. I would really appreciate it if some of you could share your personal metrics or criteria for properties you invest in.