From water leaks to termites, a building inspector has shared the worst property defects, highlighted the limitations of building and pest reports, and discussed how investors can interpret them.

“Stacked Decks: Building Inspectors and the Reproduction of Urban Inequality” published this month. (Images courtesy University of Chicago Press) This is your first of three free stories this month.

Recently, an old friend expressed disbelief that some cities, towns and counties in the United States don’t require building inspections for newly constructed homes. For years I’ve done expert witness ...