There are few places that I think have a higher fire risk.

So there is increased risk. 

So for example I'm very conservative and don't want any debt on them because I feel this hardens them in case of a severe recession.

Last, there are several companies out there that will give you a "mortgage" and not have you make payments! 

Welcome to BP.My biggest piece of advice is to understand risk premiums in real estate.

The marketer (guru) severely understates the amount of capital, time, and knowledge needed to produce successful results.And the above mentioned are the BEST case; not even mentioning the guru strategies that are fraudulent, illegal, unethical, and plain not realistically achievable.  

Or the developer can close on the land at risk but they have a lot of capital when that's the case.  

Your plan to house hack a multifamily property in Indianapolis is a great strategy to start building equity and learning the ropes with manageable risk.

That's when it clicked for me - that cap rates are more just a measure of risk.

Are there any potential risks or downsides I should keep in mind before proceeding?