Everybody has them, and it's good to know that an applicant can see them and face them. DO tie yourself to the college. Be specific about what this particular school can do for you. Your essay can have different slants for different colleges. DO speak positively.
Negatives tend to turn people off.
DO write about your greatest assets and achievements. But. . . . DON'T repeat information given elsewhere on your application. The college wants to know about you. DON'T use the personal statement to excuse your shortcomings.