Phillip, I'm hoping home inspection would uncover any such issues.

I would say it depends on just how "move-in ready" you are expecting.If someone is sitting on a property that is in relatively good repair overall, with the exception of some paint, flooring, and minor kitchen updates (countertop replacement/cabinet refinishing) for example, as a result of inheritance or a property that may be more of an afterthought for whatever reason, then perhaps through direct mail you may uncover a handful of decent leads/deals whose owners haven't necessarily yet put the wheels in motion to get rid of a property that they may consider selling once they are given a slight nudge.

Nicely trimmed bushes , fresh mulch , and a clean uncluttered lawn make a good first impression .  

At the time, I was a freshly minted Second Lieutenant stationed at the Pentagon in Washington, D.C. 

You have to work harder than these people and uncover a diamond in the rough that no one else has come across or pursued yet.

If you're going to buy bread, you want to get it fresh from the bakery.

There were a lot of houses I would go to and see fresh snow with no foot prints that meant no one had been to the house and that was a consideration in the offer I made.Looking forward to snow this year :)

If you get a house under contract, try to sell the contract and are unable to do so,and rather than tell the seller that you claim to have uncovered issues during iinspection, then you are deliberating saying something you know to be untrue.

If not, see if you can uncover any and all reasons why the land might be offered at its current price.  

Investors can buy in for the price of a single-family home or a single share of stock.But the plunge in U.S. home prices in the financial crisis should be a fresh reminder that bets on housing can sour in a hurry.The latest deals often don't depend on home values going up, which sets them apart from the house-flipping strategies that cost many home buyers dearly when the market collapsed.