What to look for in purchase and past water damage

You should include the price in your post.
A lot depends on how skilled you are. There are bunches of people who are not afraid of a little water damage, or even a lot of it, if the price is right.
Mine had a leak in a skylight that did zero damage.
I have noticed quite a few Outbacks that have a wrinkled cap.
Get a moisture meter and check all over.
Mold can be a real pain to get rid off, if there is any.
Good luck.