Here is my version about how to evaluate a good deal. 

I'll re evaluate at some point).

Based on my evaluation of the property the gross rents will cover all expenses (PITI for traditional loan and HELOC); therefore no money down purchase.  

Thanks JD, seeing how many aspects go into this, I would ideally like to find someone that I can physically shadow, such as during property evaluations, negotiations, etc.

But I need to be able to evaluate and determine who the appropriate tenant is for my property.

I'm really excited, and this rental property we're closing on, I have actually done some self-education and evaluation before going into it.

This can be very subjective, so you will have to evaluate what you truly value and whenever you spend money (whether it be $100 or $1,000,000) that it has some true, impactful purpose behind it.People also aren't methodical when it comes to saving money.

The 3 most important factors on a macro level in evaluating a market in my opinion are 1.

To both your comments Huong Luu and Hai Loc: as I'm going about this from a top-down approach, how would you evaluate all the individual listings out there and understand whether the market has undervalued units or not?

Chicago has several outer-lying suburbs to consider buy & hold strategies while your neighboring states in the midwest, like Indianapolis, have great economies to support all kinds of real estate investing.Out-of-state investing requires a lot of research to start and, as mentioned above, a lot of networking to vet the team you'll need to work with to move your project forward.Start by getting connected to a realtor who will have access to run comps for you so you can correctly evaluate potential ARV so you know what you'll need to put into your BRRRR property to maximize your ROI.