I do an extremely thorough search of the history of every property I purchase. I go to the courthouse, the tax office, the online records -- and I have good long talks with the neighbors, too. I talk to the local plumbers who have serviced the house, the exterminators, the electricians and the roofers who are familiar with it. People love to talk! I also explore thoroughly: any traps in there? if so, are they mouse traps or rat traps? any flea bombs lying around? any critter holes, or coon tracks, or squirrel stashes, or droppings, or chewed wires? Because I don't trust bankers, lawyers, realtors, sellers, etc. And all the houses have problems or I wouldn't be interested. (The only deal killer for me is -- tenants.)
It's usually not a lot of money I'm spending, though it's always cash; but the time I put into it, and the re$ale profit$ later -- that's kind of important. :)
You are reminding me of one of our appraisers in commercial lending.
He would go to the nearest bar to the site and start asking questions of anyone who would answer about the history of the site.
It is amazing what he could find that was not on any written records.
And that is the smart way to do due dilegence.