No trouble spots at all for the 98-02 Accord except for the transmission in V6 models. However, that's an extremely rare occurence. People make a big deal out of it because it's the only thing that has gone wrong with the 98-02 Accord.
118k is nothing for a Honda. If maintained properly, that engine should reach at least 250k miles. However, take it to a mechanic before you buy it and have it checked out. The maintenance required light just indicates the person you are buying it from isn't receiving regular maintenance, but the check engine light can be alot of things. Probably the 02 sensor, nothing major. Just have Valvoline or Pep Boys or some place like that hook the ECU up to a computer and diagnose the problem. So I would just get the car checked out and have the owner pay for the maintenance or take it out of the cost of the car.
What model Accord is it - LX or EX? What color? I have a 98 San Marino Red LX-V6. I love her
Chris