Real estate investing is an exciting world to be in, but it does have its pitfalls.

There are many pitfalls when it comes to affordable housing and "The Section 8 Bible" by Michael McLean and Nick Cipriano is by far the best on the subject (when I ordered both copies about five years ago I do not believe it was available via Amazon but you can still see the reviews and order it via their website).

Part of the allure of a franchise is a pre-built brand name and system, but part of the pitfall is being lumped in with the other franchisees whenever something affects the brand.

Many pitfalls to be aware of when investing out of state, but many opportunities as well.

However, if you avoid the pitfalls and keep yourself informed of the rules and new developments, the IRA owned LLC is often the most convenient and efficient way to make real estate investment with your SDRA. 

It can be difficult at times to avoid pitfalls of the UCC dealing in business, even the real estate business.

Me, personally, I'd wrap before a Land Contract because I like to start the seasoning ASAP and also want to avoid the pitfalls that time+a land contract almost undoubtedly bring.  

Any pitfalls to look out for as a newbie (with brokers, leases, general processes, dealing with old/new tenants etc)?

While I've been awaiting the formation of the C-Corp my old employer has offered me a new position that I will accept but that may require me to begin work before the corporation is available to transfer into.Would there be any pitfalls I should be aware of if I roll my 401k into a traditional IRA and then roll the IRA into the qualified retirement plan being created in the corp?

@Jose Gonzalez Definitely bring a contractor or home inspector with you to a property before you make an offer at least until you’ve developed the sort of eye for repairs and pitfalls that a seasoned investor has.