I have been in hospitality my entire adult life, and am the General Manager of the Fountaingrove Inn, a full service hotel in Santa Rosa which unfortunately burned down in the fire, along with the Hilton next to us. 

Just be aware that some offices will be wary of running a search because of being burned in the past.

Yes, the 2008 downturn was a disaster that burned a lot of people.

Some try to cheat and get a policy that is for an occupied premises but in the case of a disaster and the house burns down, the insurance company can deny the claim if they see no beds were present or no signs of occupancy.

But neither of the three are easy at all and you HAVE to know what your doing in any of them or you will definitely get burned.

I think when you take all the key levers in your business plan (reversion cap rate, vacancy rates, rent growth, etc) and go aggressive in all of those factors then you will get burned and you will burn your investors. 

I run a hotel, which unfortunately burned down in the wildfires back in October. 

Even if your house burns to the ground with no insurance, the land still has value.

(I fantasize constantly about buying a tiny home on wheels and roaming the country.)Still, I have a burning desire to invest in real estate as a means of securing financial stability and a stable cash flow for myself.

The first day they were here, they were burning a fire, illegally (per city ordinance) dangerously close to our home.