The second is that as soon as you so much as walk indoors you are violating VoP by RAW. It's stupid, but true.
Where does it say that?
Any time you gain the benefit of anything worth money...such as shelter from a roof. It's completely ridiculous and handwaved by any sane DM, but it's there.
No it's not.
In fact the primary description states only that you may not "own magic items". It isn't until the feat description that this is expanded on with "May only own ordinary (not masterwork) simple weapons, simple clothes, and carry enough food to sustain himself for one day (silly, since after level 5 you don't need to eat any more)" and "that you may use a spell component pouch".
Further, it also says you may benefit from one-use items given to you by the party (such as potions). It only ever talks about your characters possessions. That you would not be allowed to possess a building is a given I would think.
Are you sure you aren't confusing this with the Fist of the Forest special requirement?
Anyway, the third real trap of Vow of Poverty is that it doesn't scale at all.
As was stated, magic items are simply better in the end than benefits from this feat. At low levels, when no one has any items, properly made VoP builds can seem outright broken. At mid levels, you slowly start to find yourself on even keel with the rest of the party. After about levels 12 to 14 and up, magic items far surpass any benefit granted by this feat.