Might depend on what other assets you have and your estate plan too, and your risk tolerance. 

This is a small risk in low income areas.

The condition of homes newer than 1978 will determine if they still qualify for financing, plus many lenders will have their own 'risk overlays' in addition such as they may require the home be even newer than 1978, some limit them to 15 or 20 years old. 

Is there a risk that I end up not being able to build or to pass title in the future to a buyer?

Part of the risk for realtor women is they are meeting strangers of potentially unknown identity.

You can take more risks by buying cheaper properties or in some cases, put an emphasis on buying close to home.  

Be ready and commit and at the same time understand the risks and understand you’ll make mistakes.

It was about how a major operational restructuring would effect the forward operation and our discomfort with the risks.

You can get better return comparing with the stock market (10-15% is reasonable expectation) and with lower risk.

Glad you're aware of the risks, no go get some deals!