Issues with current market and what do you avoid?
The market in my area is generally overvalued and some are borderline unreasonable. People are trying to sell properties after a few years owning it for a 50% profit without putting any money into it. Many of these properties are in desperate need of major repairs thanks you "deferred maintenance" (I hate that term). For example, the vast majority need a new roof. Assuming that the boards underneath aren't destroyed you are probably looking at $20,000-$25,000 just for that. What makes matters worse is that right now no one is willing to adjust the pricing because people bought properties overvalued and now are trying to sell overvalued. It is like a ponzi scheme and someone in the end won't be able to sell.
As a result, I spend a lot of time evaluating the property during an inspection phase. If the roof is bad I generally expect a steep price reduction. To me, a bad roof means that the owner isn't properly maintaining their property. What are some things that you see that makes you immediately consider backing off?