A cheap 25k house that rents for $850/month on paper might sound good at first.

Plenty of toxic paper out there. 

Check that the taxes and insurance numbers are realistic — some brokers leave those out to make the quote look better on paper.

As a long-term buy-and-hold investor in the Tulsa, OK market, I can tell you that “tornado country” sounds scarier on paper than it plays out in day-to-day operations.

It’s about what buyers in that area are willing to pay for the difference in land, not what looks better on paper.

It looked like a good deal on paper, but the market fundamentals just weren’t strong enough to support long-term growth.That experience taught me that you have to look at market trends and use that information to help guide your purchase decisions.Bill Whitley

To be transparent I had disorganized mess of paper notes, receipts and spreadsheets - it was a huge stressor. 

Check the toilet/bathtub for any leaks.

My wife and I have very different understandings of money and of debt and of risk, but we have conversations and spreadsheets and sheets of paper with math and 'business plans' and we make decisions together.

The numbers may look good on paper, BUT the delinquency will kill it.