I'm seeking advice on a challenging situation with one of my rental properties, a condominium that was damaged in a fire incident. The reconstruction project is taking longer than expected, and I'm facing ongoing fees every month, despite being unable to use the property for rental or personal purposes. As I understand, I'm still responsible for paying condominium fees and property taxes, which is becoming a significant burden for my household.
I'm exploring options to recoup at least half of the property's value, considering it's currently uninhabitable. Selling to investors at a fraction of its worth is not ideal, so I'm looking for alternative solutions. Unfortunately, filing a lawsuit is not a viable option for me due to personal circumstances.
I would greatly appreciate any ideas or guidance on how to navigate this situation. What would you do in my case? Are there any potential solutions or alternatives that I haven't considered?
