If things go great there will be more upside, but work out the numbers where worst case scenario you don't get burned.  

flipping...rentals....wholesaling...to burn the house down accidentally on purpose and collect the insurance?

If Is been out for a while the smell might be dust burning,,,,, like the smell the first time you fire up the furnace in the fall.

If you're money isn't totally burning a hole through your pocket, just wait for the market to soften, more inventory, more days on market, more months supply - when it is no longer a fiercely sellers' market.

Otherwise you are really burning bridges.

A contractor told me if the renter burns down the house with his hot plate, the homeowners ins won't cover it because he shouldn't be there in the first place....I want to be covered all the way around..

I see novice flippers burn bridges with contractors all the time by trying to get them to come look at 5 or whatever amount of properties they dont own to give them rehab estimates.

I have been burned by allowing customers to purchase their own materials from their own vendor.  

I had $8,000 and a burning desire to do a deal.  

I have had a similar experiences in the past however most out of town tenants today will spend more time vetting the properties since some prospective tenants have been burned and some landlords too.