Most investors do this backwards. They find a property, then build a thesis around why it works.

Define your thesis first.

What's your target cash-on-cash return? What's your maximum purchase price (hard ceiling, not aspirational)? What vacancy rate are you building in? (If it's 0%, stop.) What are your deal-breakers? (Foundation issues, flood zones, more than 30 minutes from where you live?)

Write it down before you start looking.

This isn't busywork. It's the filter that keeps you from wasting 20 hours analyzing a property that was never going to meet your criteria.

Know what "good" looks like for you before you try to recognize it.