I find this is a common oversight, and so easy to do.

This will become more common place as more jurisdictions provide more free legal counsel.

But every market is different, and perhaps it's not such a common issue in yours. 

I hate that what your referencing is a common problem.

(for example, one of the lawyers I work with has represented clients in court cases for contract disputes so he has a keen eye for contract details or omissions that could be a problem down the road)What do you think are the most common legal risks that investors take either knowingly or unknowlingly?

Non ad valorem would be taxes that are evenly applied to all properties regardless of value on a per-property basis, commonly for community road improvements, new fire stations, CDD (community development district), or other items like that which impact a small part of the county which those seeing benefit repay over a period of time.

It’s common sense but some folks would rather spend that money each month on cigarettes and booze clothes eating out nikes etc, .

Traditional multifamily units are not as common here as in other areas of the country so that makes the market very competitive.

Is that common in your market? 

@Faysal Alam, you are experiencing a common blocker to anyone doing something new.