Identifying major problems for a house

[Mike Toole]

Hi,

I'm new to the community, and learning as much as possible before getting into the business.

When buying a fixer-upper, I know there are couple major problems to avoid such as foundation and plumbing/electrical.

For investors who don't have much experience in inspection like me, how would I know the house that I'm interested in has no major problems mentioned above? Do I simply proceed with an offer and rely on the home inspector, then back out of the offer if the inspector found any of these major issues (assuming inspection contingency is included in the offer)?