Running the numbers - buy a SFR that doesn't make (numbers) sense

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So I've been practicing going through the numbers on a buy & hold strategy and learning what to look for in overall price, rehab, income, expenses, taxes, etc. using the BP calculator.  But just curious if anyone has bought anything that didn't make sense on the calculator or if you made a purchase that didn't make sense using your own spreadsheet/whatever you use.  Was it a good deal?  Bad deal?  and what were the reasons that you didn't foresee?

@Brett Wagner , surely, the only reason why you'd buy "anything that didn't make sense on the calculator" is if you were banking on future appreciation, right? [And so far, you'd have been "getting away with it" too, right?]

Perhaps, ask again after the next credit crunch comes? Cheers...