What is considered a good deal?

[Nick Stango]

There is a neighborhood 5-10 mins from my house that has many investors swarming to, who are picking up great deals on real estate and fixing / flipping, wholesaling, renting, you name it, their doing it. But is it a great deal or does it just appear to be? From what I've gathered, these properties are being purchased for $100-120k with a $35-50k repair cost and sold for $185-230k is this considered a great deal or a to close to call or run fast deal?