I think the onus is on you as the buyer to do your homework and keep a sharp eye out for the issues Drew brings up.  

They say cash is king but does that hold out in a high inflation environment that is forcing a strong seller's market into a sharp 180 degree turn into a buyer's market?

It is critical to keep your mind sharp at all times. 

Henry Clarke and a few others are very sharp in this market.

Or the guy that cut a corner too sharp and knocked down a fence post.

Don't worry, Jimmy and others are pretty sharp and will find you.

Although as sharp and as wise as can be, he is up there in age and because of that doesn't want to invest in long term holds... for 4 years he has held mortgages and notes for me with a one year balloon, which gives me time to rehab and sell or rehab and refi. 

Joe, you are a sharp guy.

Just watch for the sharp long teeth.

If they're really sharp they'll speak to you of Structured tic sales to alleviate some of that pressure so you can buy in a more efficient relaxed fashion.