What are the benefits and pitfalls of buying properties via Auction.com. 

Flipping commercial property really requires a deep understanding of the market and the subject property's potential to avoid the pitfalls of having it sit on the market because you overshot your numbers, units going unrented, your budget falling short, etc.

I'd like to connect with folks that have been down this path to pro-actively identify pitfalls, opportunities, etc.

That way you both gain experience in the business, learn creative ways to find lending, the pitfalls of REI (not like you see on the TV shows) and you can possibly have input on the layout of the property, which could be valuable selling point in the future. 

What are some of the pitfalls or problems we could face?

Best place to find the next REX meeting is at;  http://www.meetup.com/R_E_X_/The next meeting is about investor pit falls and commercial lending. 

There can be so many pitfalls if I don't tread lightly..

I know they go MLS to get best price, I have no idea if there are pitfalls or what not, new to investing but 12 years in government construction as self performing contractor.

Before I get started, am looking for advice on any pitfalls to consider before I engage in a zoning discussion with Regional Building. 

Being a licensed agent, and getting a business going as a PRO BUYER LEASE 2 OWN CONSULTANTPROTECT YOURSELF FROM GREEDY  HOME SELLERS AND EGOTISTICAL LISTING AGENTS<Craiglist Ad>Hi, I am Brian Gibbons and I protect buyers of homes on Lease Purchase.There are pitfalls of Lease Options, Lease Purchase and Rent to Own.Unscrupulous home sellers and listing agents do not want you to learn:* If you do not buy the home, you are out thousands or 10s of thousands of dollars!