Pretty much all aspects of life have a pro vs con, risk vs reward, convenience vs money and time component to them. 

One might say this kid is crazy and in for a rude awakening, I would say it's a challenging opportunity that if cautiously and diligently embarked upon can be successful and financially rewarding.

Is the hotel part of a big chain w/rewards program?

OC/LA is a very competitive market but can be rewarding.  

For example, I thought I would drive toward a particular niche, but I found a different niche that keeps rewarding me.  

Make it known in the beginning that you intend to reward them for a great job done during the year.With regard to your questions about dealing with owners, it's quite simple:1.  

I'm talking about creating relationships where there is an established understanding of shared risk and reward; and where there can be flexibility in how a deal is structured.  

Visualising the reward at the end of 30 years with no ongoing rewards will quickly ware very thin.The catch is that when the inevitable blip does happen (lost job, medical expenses, extended vacancy, house fire etc.) you will lose it all.

I think your advice is sound, but without knowing the op tolerance to risk is, and the rewards he wants, I think your response is strong. reading between the lines of the original post I think you are correct, but still rei is better than the casino.

Turn key or greater potential reward.