I get a lot of wholesaler deals sent to me, and most of them I can say yes or no to in about 10 minutes. I run this same check on every deal at 236 doors. Here it is, in order.

1. ZIP code. If it is not in 38109, 38111, 38112, 38114, 38116, 38117, 38118, 38122, or 38128, I pass. I know those streets, those rents, and those rehabs. Outside them, I am guessing.

2. Beds and baths. I want 3 bedrooms or more. A 2/1 I can convert to a 3/1, and a 3/1 I can convert to a 4/2, but I will not pay 3-bedroom money for a 2-bedroom house.

3. Purchase price. I buy single-family under $100,000. Over that, the numbers rarely work for me in Memphis.

4. ARV. I pull sold comps, not list prices. For the houses I buy, ARV usually lands between $180,000 and $265,000. If the wholesaler's ARV is above the sold comps, I use the comps.

5. Rehab. I walk it, or I get real numbers from my own actuals, room by room. A rough guess is how deals die.

6. Rent and the 1% rule. For a 3-bedroom or larger, I need Section 8 rent in the $1,395 to $1,950 range. Then I check it against the 1% rule: monthly rent should be about 1% of the all-in cost. If rent is $1,500, my all-in needs to be around $150,000.

7. All-in vs. ARV. Purchase plus rehab is my all-in. If the all-in does not leave room to refinance with a DSCR loan at 70 to 80% loan-to-value, I pass.

8. Terms. I never put earnest money down. If a wholesaler needs that to move, it is not my deal.

Deal flow is my bottleneck, not money and not contractors. So I stay disciplined on the check above and I let the bad ones go fast.

What is the one number you check first when a wholesaler sends you a deal?