What’s your first filter before spending time underwriting a deal?”

[Robert Street]

Before I go deep on comps, rehab line items, or exit strategy, I’ve been tightening up how I screen deals on the front end.

Lately, instead of anchoring on a single ARV or best-case rehab, I've been pressure-testing deals using:
 ARV ranges (low / mid / high instead of one number)
 Rehab bands (cosmetic vs moderate vs heavy)
Explicit known vs unknown risks (interior access, occupancy, title, etc.)
 A downside-first read before thinking about upside

The goal isn’t to kill deals — it’s to avoid forcing numbers or chasing something that only works on best-case assumptions.

Curious how others here handle early-stage deal strategy:
What’s your first filter before you decide a deal is worth serious time?