Cal.) and was happy with the deal.Thanks for the advice on the pitfalls of buying at foreclosure.

What are some of the pitfalls to watch out for?

My intent was to show him that they do not tell you about the pitfalls that most everyone gets trapped in when they operate in the blind excited way that most encourage you into with the "just get out there and do it" encouragement speeches.This taught us just what most of the pitfalls were and how to avoid them and we developed our own system that works for us and neither of us now need our second jobs but continue in them to put away the nest egg to be able to do any deal that we now would like to do.

If you choose to invest here, nothing is risk-free and our market has some pitfalls.  

Anyone have any advice on pitfalls to avoid from personal experience in this scenario?  

My questions are about the potential pitfalls or issues.Thanks,Scott

Another possible pitfall with buying an existing business is the angry customer/vendor/tenant that just hasn't gotten around to suing or acting on it yet.  

I'm currently working out the numbers on acquiring my first rental property through traditional financing. However, I've also been looking into 'creative' financing to add 2-3 additional units quickly in succession, a...

What other pitfalls in this situation should I be looking out for.Thanks for any and all advice.Missy

I will be looking for your advice and your guidance in order to prevents pitfalls.