squatter set fire to home and caused extensive damage and I’m unsure how to proceed

[Kevin Drouillard]

I recently had a squatter set fire to one of my single family rentals in Kansas City, (“East Community Team South” neighborhood). The incident was an angry response on their part because I had the property manager board up the house. Anyway, I am trying to figure out what to do. The damage is extensive so much that it’s more than what insurance can cover. I do feel like selling it will be best but how can I market it to one who is willing to buy it? How do you suggest is best to go about dealing with this situation ? I have to admit I’m stuck/at a loss and I don’t feel I know the best course of action. Should I talk to a pro advisor for best advice? It’s intense and complicated as I’m out of state. Are there resources I can go to? My property manager is lackadaisical and seems to not want to help. This is the 3rd PM I’ve had and while I want a new one I feel the good ones are hard to come by, but I’m definitely open to referrals. It’s a bind that I know I can figure out if a have just a bit of the right guidance. Your thoughts are greatly appreciated!

[Nathan Gesner]

Quote from @Kevin Drouillard:

Fire the PM. They clearly aren't doing you any favors.

File an insurance claim. If the house is worth $300,000 but insurance will only pay $150,000, that should still be enough to renovate and then sell. Unless you're in a real D-class property, you will typically be better off renovating and then selling.