Clearly the pitfalls here are time and accuracy.  

For properties that are in the sweet spot for rentals, seller financing has many of the pitfalls of tenants (late payment, non-payment) but none of the tax benefits.

Many CA investors see it as an easy option, but there are many pitfalls. 3- if you look at 2-4 units, you can get the rents added as income credit to your salary.

It is always great to hear some of the pitfalls others have gone thorough.

I'm trying to figure out the pitfalls of buying properties through sheriff's auction and looking for ways to mitigate some of the risk.

You  will  need the help of an attorney and account the question to ask  to be able to do the creative structuring  of your partnership  with a plan of action  a organized  plan of action and  aware  of the pitfalls  and opportunities  just doing this with family will not  be enough  you will need  professionals who know the laws  of syndication

And we've yet to actively look for them - so I need to get this figured out, and soon.Thanks for any advice, tips or information about pitfalls to watch out for!

School does an incredibly poor job of educating our kids on issues of money, so I am trying to show my kids how to avoid some of the pitfalls that I jumped into.

There are numerous pitfalls you must mitigate to succeed like, interest rate hikes, market dynamics, rents/vacancies.

What are the tax benefits and pit falls for both options?