However saying that bubbles or crashes don't exist is ignoring forced circumstances that wouldn't normally occur in the cycle....such as aggressive sub-prime lending......I think saying those words are for people who are clueless is a little bit of an arrogant assertion to make on a forum filled with MANY successful real estate professionals. 

As this will be my first property, I want to make sure that I am setting myself up well as there may be unforeseen costs that I wouldn't have otherwise budgeted for. 

(There are also other circumstances in which your spouse has rights to non-residence property, but no time to go into them now.) 

Individual circumstances may be unique, the rules may vary from State to State, and anyone considering these matters should contact their own professional advisors, elder law attorney, and accountants before undertaking a similar transaction.  

If the circumstances of the sale were out of your control, you'd have a good chance of winning the suit, but you'd still be paying for a lawyer to go to court for you (so you'd lose money anyway).

Is it a good reference tool in some circumstances, yes, but  overall it is unreliable as a whole.

I have bought 4 rental in last 2 years but all with normal circumstances.

The insurance inspection came back with a few small safety issues with the siding and some mortar around the chimney but the big unforeseen problem was the decrepit rotting garage in the back yard.

I would also, as @Jeff Rabinowitz suggests, run the idea by an attorney just to make sure... since case law and your personal circumstances are important legal factors.

Oh, and I'm not worth listening to under any circumstance.