Quote from @Shane Bishop: Software is a common question on BiggerPockets.

Even in the 30ish states that did not require an agreement, it is still common practice for many agents to have a buyers agreement in place before showing homes.

@Chris Gawlik on vacancies we have the same paint color, the same flooring, VCT in common and we use a laminate in units, same stoves, same refrigerators same everything for the most part.

You may need to pay a broker to help consult with you through the deal process, but they commonly know lenders that will finance their type of deals, they clearly know the acquisition process from LOI to contract negotiations.  

Read the post above and use common sense.

Source: Boston Properties Rises to the OccasionSource: Major makeover planned for Reston Town Center's common areas — their first in 30-plus yearsSource: How Fannie Mae helped Boston Properties land Volkswagen's U.S. headquartersBoston Properties is not the only firm looking to massively develop the area, with the approval of Rivana at Innovation Station, which was approved last year for a 103 acre, 9 million square foot Urban Center, with first occupancy slated for 2027 right by the new Innovation Center Metro, just 4 miles from Reston Town Center.

I would think this is a common practice that lenders perform, but if not....message me.

Are there any common pitfalls I should avoid?

One of the commonalities is that all these social media gurus like to hear themselves talk.

While a deposit is almost always preferable, you should make a common sense business decision based on the circumstances and condition of the property, in my opinion.