Tips on Successful Home Inspections?

[Brian Phor]

Hello BiggerPockets Real Estate Community!

I'm a wannabe real estate investor looking to purchase his first deal. Starting in August of this year, I started seriously learning about the world of real estate investing. I made it an everyday habit to listen to a podcast and read a few chapters of a real estate-related book. A few months later in November, I decided to put my knowledge to the test. I made my first offer on a duplex and got it accepted. Yay! The purchase process was fine, but things started getting problematic after the home inspection. After reviewing the home inspector's report, it was revealed that the duplex had major issues, namely electrical and plumbing, that would've resulted in it becoming a money pit over the next few years of owning the property. So I backed out of the purchase and lost my earnest money (a small price to pay for experience). A few weeks later I found an even better property. It was ~35 years newer than the duplex and was recently renovated (new paint, carpet, flooring, etc.). After attending the open house, I quickly made an offer, got it accepted, and proceeded with the purchase process. This time the process was much smoother than the last, that is until I received the home inspector's report. There were some structural issues, termite damage, water damage, and concerns with the furnace, which the inspector claimed to be highly inefficient and would lead to absurdly high electricity bills for the tenants. So, once again, I'm backing out of the purchase and may potentially lose my earnest money. Now, turning to the collective genius of the BiggerPockets community, I was wondering what you guys have done to ensure the property you're purchasing doesn't come back full of surprises. To me, the most deterring part of purchasing a property is thinking about the potential problems that may result in the near future after the purchase. 

In short,

• Before making an offer, what do you check for in a property to ensure it won't be in need of costly repairs? 
• What are some items in a home inspector's report that warrants attention and what are some items that aren't causes of concern? (As a newbie it's difficult to separate these two).

Any pieces of advice, answers, and/or references to resources would be greatly appreciated!

Thank you all and Happy New Year!

Brian