A good agent will also understand the pitfalls of investing out of state and will help you mitigate the risks. 

Experience, most agents know nothing about construction and even less about the pit falls of flipping homes.

It is good to remember and stay away from the possible pitfalls of investing.In the meanwhile, thanks for sharing the 5 sources! 

While the rewards are great in realestate the pit falls are numerous.

Pitfalls, and things to watch out for.

It is much better to get a smaller ROI that risk some pitfalls that loom around every corner.

Any pitfalls here? 

Should you run across a similar situation in future, that type of advice can be found through fellow BPers, or even paying a negotiated fee to an agent to review contracts and watch out for any pitfalls.  

OK, so what are the pitfalls of buying land like this? 

That way you don't get many or any big surprises unless they do a special assessment.What pitfalls should I be looking for when I profile a condo and the managing HOA?