What is the deal factor that immediately turns you off of a deal?

[Austin Sine]

While doing back of the napkin due diligence what is a standout factor that will immediately turn you away from analyzing the deal any further?

[Lien Vuong]

Cheap and slum landlords with patchy renovations. I hate inheriting properties like that, you end up finding so many surprises, it's almost better to gut renovate and do everything at once than to continue to band aid the building because of all the deferred maintenance.