I had a partner who does land entitlement in 15 cities and I've been an agent for 10 years and I wouldn't touch it unless you can get it approved while it's tied up with minimal efforts.

Partnering as an LP can help you learn the ropes while minimizing risk.

There was no interruption to Moon Palace thankfully.

Mine all run themselves with minimal issues. 

It’s an ideal approach if you’re focused on minimizing risk and maximizing control over your investment.

I usually interrupt them with "hey I am so glad you called" which usually makes them pause for a second so I can get a "please put me on your do-not-call list" in.

I am not sure what kind of appreciation a boutique hotel can create, as hotels are very much operating businesses and the real estate itself holds minimal value outside of the business operations. 

That being said, Zillow is also the primary site in my market for rental searches, especially SFRs, so I have no shortage of tenants seeing my listing when it is available.The one downside, which is minimal, is even though the tenant pays rent through Zillow on first, and I get a notice that rent was paid, it can take 5-ish days to arrive in my bank account.  

Also, consider partnering with experienced local investors or contractors to minimize risk while learning.Let me know if you’d like help with financing or any real estate questions along the way!

There are losses due to vacancy during any turnover, but even that is minimal.