The last big bubble was more of an anomaly that was brought on through a lot of risky lending practices over the decade preceding it. 

@Rami Aweti The problem with Sacramento is that we are anchoring our job growth experiences with the Bay Area, which is an anomaly in job growth.

Depending on your market, I'd consider evaluating 20-30 properties this way so that you can start to identify anomalies between properties and cities.

My first deal was an anomaly on the MLS, and it had COC of over 20% in year one.

Was BoA an anomaly or the norm?

It's common to find land-rent in place.And while most of MD the taxes are sold by county I though Baltimore Coty was the anomaly there...?  

“The drop-off in household formations could be an anomaly due to noisy data, or it could be a symptom of the lack of supply of housing,” Freddie Mac stated in the report.

Also in a joint spousal judgment check each spouse separately to see if they have any form of Lis Pendens, Liens and Judgements in their individual names.This seems like a lot of work, but once you get into it and get a routine going its reasonably quick and simple.Of course there are some extra complexities and anomalies to it that would fill an eBook but in the end only practice will get you to understand these.I would do a few test runs yourself and then buy a Title Report for $50 and match your findings against the report, this way if you have made any mistakes you will be able to back track and pick these up and get an understanding of where you went wrong, if at all :)

Plus from what I've found a lot of homes that far out in Suffolk don't have basements - though that may just be an anomaly (I know its true of the Bohemia area though, and stuff south of Sunrise.If you plan on living in the home yourself - you can get away with as little as 3.5% down through an FHA loan.

This was an anomaly flip, we fell into it by chance, it was a huge risk because condo's are sometimes not the easiest to sell, especially in the middle of a Wisconsin winter!