I like the show, not for the repair or screwed up houses, they are hand picked and obviously not as common as them make it out to be.
But one thing that this show is good for is to show just how the whole system and laws are made to extract as much money as possible from the home owners, while protecting the contractors and builders.
Basically any contractor can come in, get a deposit from you, start some work and walk away from the job with the money, and if you try pursuing this guy the legal way, he will just fold his business and open another one the next day under a different name.
Holmes' message is not to give any deposits up front, or give very little, and pay the contractor as he completes certain mile stones with bigger projects.
That’s the way I take the show. I just purchased a new home and will be moving in this May. This show helped me a lot with realizing that unless you do your homework and inspect every single thing yourself, there is no one else that will help you. Even the so called “inspectors” are never liable for any defects found after the inspection, and often collude with the real estate agents for business. One hand washes the other type of deal.
For my PDI, I am coming in armed with a check list of things that must be caught during the inspection. Things like scratches, holes, missing trim, misaligned doors and windows,etc. if not caught during the inspection, will not be covered as you will be blamed for the damage.