What criteria should I have when evaluating an investment property?

Not talking about fly by night carlton sheets crap here. More interested in long term rentals What guidelines whould I have for ROI etc?

Not looking for tips. I am looking for what criteria you use when evaluating a property.

There are definitely a few set of guidelines that you should be on your criteria. First, you need to determine market conditions, ie. market rents, vacancy rates, demand for rental units. Next you want gauge your expenses ie. r.e. taxes, insurance, utilities, reserves for repairs etc. Deduct these expenses from your your projected gross income less vacancy rates and expenses will lead you to your net income. Another major factor is to determine market increases for rentals as well as for property values. In New York where I'm from alot of investors will put a significant down payment and break even on a property for a few years till the rents exceeds expenses and then re-sell the property a few years later for a nice profit an example would an investor would pay 400k for a 2 family put 20% down break even on it for 2 years, then make a small profit per month in rent (300-400) then re-sell the property after a few more years for 650k.

Do not invest in property until you understand the business. Tips are not enough to evaluate property . The only chance you have is price values. You can see that a low price is good for buying and a high price is good for selling.