Is there anything I should know before wholesaling my first property in Georgia? It's a deal on a mini storage facility. Should I use a lawyer to draft the purchase and sale agreement? If so, who pays the lawyer fees?

Curious if there are any pitfalls I'm not seeing or perhaps better approaches.

Would like to hear the pitfalls and any one with experience with this kind of setup in their portfolio...

I know I would be getting the years of knowledge and mostly the pitfalls this guy has endured will be brought to the table as well.

He estimates renovation time to be about 3 months.Few questions that I had:1. what sort of pitfalls should i be looking out for?

Also, if the land you're looking at is forested then what are the pitfalls to look for (I guess roots need to be removed and not just trees).

There is always a possibility that you may not be able to access the value of your investment to make distributions when you may need the money the most during your retirement years.Self-Directed IRA Tax Pitfalls to Avoid Owning real estate in an IRA allows your investment to grow on a tax-deferred basis (Roth IRAs provide the potential for tax-free growth).

It still seems to make sense to do it this way as capital gains are taxed at 15% (vs. 30%+ for ordinary income) and I wont incur the tax liability until property is sold.I am most concerned on how to actually perform this action and if there are any hidden pitfalls I should consider prior moving forward. 

There are pitfalls though. 

@Nathalie ReyesLook into creating an operating agreement which will help to avoid potential pitfalls down the road.