I actually just wrote a post in my Blog here on biggerpockets for new investors and the most common pitfalls - check it out!

There are many pitfalls to a RTO and unless you have a really good command of lending guidelines, HUD regulations and buyer qualification issues chances are your RTO will fail, that's where my money would be.

:cry: That is why you hire someone that is actively in the market and can help you from these pitfalls until you learn.Now it will cost you twice to fix what could have been prevented.

If so, what do you think are the potential pitfalls?

I'd like to hear from all of you the possible pitfalls and perks.

Any thoughts out there on this or any other potential pitfalls I would appreciate.

They must have a plan, they must gain knowledge, they must align themselves with the right people if they want to avoid some pitfalls that you might experience on your own for the first time, and they must work hard.p.s. listening more than speaking, using your mind to analyze the information (not just taking someone's word for it), and then true hard work will definitely be help you succeed.

Ok, so what are the pitfalls to buying a property subject to and then offering owner financing and reselling it right away for a higher price and higher interest rate?

Make sure you put together a solid business plan to help you avoid the pitfalls of other new investors.

Only an experienced land developer knows many of the pitfalls and things to look out for.Can you do it on your own?