First Quit Claim Purchase

[Jases Brown]

I am looking at a property that is coming up for auction through auction.com.  It is bank owned (I have verified with my county tax office) and appears to be vacant though the auction site says it is not.  I have driven by it, and the power meter is pulled and there does not seem to be anyone around.  

I really just want to make sure I don't jump into anything here that is over my head.  What are the pitfalls I should be looking out for?  I am a new real estate investor so please do not assume ANYTHING would be common knowledge.