It burned to the ground a week after purchasing.

You would want to know if anything was ever built on the land (maybe a house burned down) because if there was a house then you would have potentially buried septic or oil.Buying and holding a lot for the future with topographical issues is only worth it if the price is negligible IMO.

I have a buddy who invested in a project in Las Vegas that crashed and burned.

Spent all of the "Dry" season clearing land, bulldozing, burning, discing, then plowing rows.

@Richard Bautista could be legitimate, but could also be a "churn & burn" situation.How will you know the difference - before it's too late?

Quote from @Matthew Becker: Do the rivers still burn in Cleveland? 

Some, after they got burned by another PMC.#1 problem?

I personally would have to have one of the windows replaced before I'd feel comfortable renting it, but that's just me and based on personal experience including a traumatic one from childhood in watching the apartment building next to ours burn in the middle of the night.

What’s worse is many investors who do get burned become afraid of investments in general and keep their money “safe” at bank rates of return.  

I had listened to Jorge on podcasts before I invested and know that he had misfortunes in another business which he detailed in Burn Zones.