Well for me, the very first thing that I look at an ICO is the concept of their project as to whether it solves real problems or creates an imaginary problem for it to solve. After that, if I somehow liked the concept, I then proceed to look at the developing team to make sure if they are experienced people in creating ICOs and are really good at what they do. Then, I look at the community it has supporting it and ask a few questions. And then, I proceed to reading the white paper to know their whole plan for the project. And lastly, I ask more about the things on the white paper to make things clearer for me so that I can be sure that my investments are in good hands.

Hope this helps you man, good luck.