To be honest, auctions in general can be a pretty risky way for a beginner to jump in as there are a lot of pitfalls (buying sight unseen, previous liens attached etc). 

What pitfalls do I need to look out for?  

I have a reasonable understanding of the pitfalls of owner finance but wondering whether it would suit a person in my situation.  

If you start by doing this you will quickly learn the pitfalls and how to deal with them. 

They need some blog posts to get them started, and I want to write a "Tips from the Experts" piece where investors more familiar with the concept give advice on some of the advantages / pitfalls of the model. 

Checking for tax liens is hugely important, but as Jesse mentioned, I think the biggest pitfall is hidden defects.

I'm primarily interested in purchases as investments, maximizing ROI, and looking to take a more active role (compared to buy and holding stocks/funds) in attaining FI.I think the regional pitfalls/gotchas, and unseen costs are the biggest deterrents for newbies and over-thinkers like myself.  

It takes years to develope the proper instinct to guide your company through the pitfalls that are out there.  

It seems thh pitfalls in there residential and commercial auctions are sightly different. 

Pitfalls to avoid?