Back in the days of Machine Gun Kelly and other old-timey bank robbers, they would sometimes take the mortgage paperwork held in the vault with them while they were at it, and burn it.

In an A community the land value is high enough that if the subject property were to burn down, it would make sense to rebuild a bigger and better property.In a B community the land value should be substantial enough to rebuild the same property, in square footage and included features.In a C community the land does not support rebuilding, and the lot will remain vacant for years to come.

There is a reason Private/Hard money lenders do what they do -because they take a lot of risk and HAVE gotten burned when a Borrower has woefully underestimated the ARV of a property (for example). 

Cigarette burns: Look at the carpet, especially near furniture where people sit.

If you want out of a contract I suggest you to speak to an attorney, and ASAP before you burn through any contingency timelines.

On my last house I sold I opted to do it myself and wanted to burn the house down by the end.

Landlord type homeowner's insurance does not cover any contents, so if all of your furniture was stolen or burned in a fire you'd be out of luck, unless you have an STR supplement.Also as @Scott V. mentioned, say you rented to someone and they had a huge party at your house and caused a bunch of damage and you didn't tell the insurance company ahead of time that you were using the house for STR - I would think they would either find a way to not pay the claim or else non-renew you.  

Helen you should listen to David's advice unless you want to trip over dollars trying to pick up pennies.You could get BURNED not doing proper due diligence.  

The fines for that are steep and the possibility of you getting burned should you bring a buyer to the tale are immense.

Burn after reading: Sounds like you need a new broker.