Squelch,
I think your primary risk is economic - depends on the price of the plane and the engine - paying too much for a high hour engine might not cost out too well; however, if it is a bargain, probably an OK deal - depending on current condition.
The best place to go to become familiar with health and welfare of a Rotax engine is the Rotax owner site.
Located at: https://www.rotax-owner.com/en/
All of the manuals, service bulletins, maintenance, etc are there; and, you can look up your engine a number of ways including by serial number.
There are a number of time in service routine maintenance items; which if performed, should be in the engine logs. One of the bigger ones, I believer, is gearbox teardown which I think is a 600 hour item. If you have 1200 hours, it's time for the second one of those, if it hasn't been done already. The 5 year rubber replacement is about a $1,000 proposition if it has not been done.