Let's say you burned through $150,000 in appliances and "more costs", ya still have $500k vs $250k. 

A kitchen fire in the back unit got a little out of control and burned up to the roof.

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 will get burned at some point but it has been good so far.

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.

Let's view this another way, a tenant applies to rent who was convicted of burning down a previous landlords property.

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.

But don’t worry they burn their employees just as badAs they’re investors.  

The question comes with various customized details but it's the same answer over-n-over again, to such a degree that answer-burn becomes a very real thing. 

Quote from @Cassidy Burns: Welcome to BP!