How long should a deal recommendation be? Early stage VC asks for cover letter, resume, and deal recommendation

Just curious how long a deal recommendation should be? I know what content to put in (management team, financing & metrics, market, biz model & strategy, competition, etc.), but I don't know how long it should be for the purpose of this application. Should I make a deck or just a one pager PDF?

Thanks as always, we're getting there...

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