Most SMB acquisition listings do not give buyers enough information to make a serious decision. They give just enough to create interest. Revenue. SDE. Asking price. A short description. Maybe some vague “owner retiring” language. And then buyers start filling in the blanks themselves. That is where the danger starts. Before LOI, I think the discipline should be less about asking: “Is this a good deal?” And more about asking: “What would have to be true for this to be a good deal?” Can the cash flow actually support the price? Are the add-backs real? Would an SBA lender size the debt anywhere near the asking price? Is the revenue durable? Is the buyer actually qualified for this type of business? What information is missing that could completely change the conclusion? I’ve been working on this problem through Acquisition Decision Engine — not as a replacement for lenders, CPAs, attorneys, brokers, or real diligence — but as a pre-LOI discipline layer. The goal is simple:Slow the buyer down before the deal story becomes believable. A lot of acquisition mistakes happen before diligence starts. Not because the buyer is careless, but because they start trusting the narrative before the numbers and risks have earned that trust. Curious how others here handle this:Before you spend real time on a deal, what are the first 3–5 things you pressure-test?