We have a President who, setting aside his faults, is not dedicated to tearing apart and rebuilding American mortgaging from the ground up.

The only way to know that is by a letter from the city/county and or a rebuild letter that states the subject (specifically) was grandfathered into current zoning, what was allowed on the property and that it can rebuild if damaged or destroyed.”Circling back to our initial conversation, I can assure you that we will be able to refinance this property, however, the term length and loan product simply depends on the use type at the time of refinance:· If permitted as a triplex (or grandfathered in): we will be able to offer the 30 year rental product.

Do I sell the house and just take the losses, then try to rebuild my cash reserves to put a down payment on a new property?

Cost is used for structures that are unique and more difficult to find comparisons so the value is determined by calculating the cost the rebuild.

If you would not rebuild there then you are looking for coverage enough to pay off the loan and your investment.

Prices to rebuild started at $100/sq ft.

@Jacob George Lada I would recommend rebuilding as large of a multifamily property as you can for the zone with the money that you can.

@Joe BlakleyJoe - very thoughtful post and a good assessment in my opinion 👍Your 3 schools of thought are right on the money.Personally, as a Boise/treasure valley Idaho REI, I am saving/rebuilding cash piggy bank, waiting for prices to drop (for whatever reason, you can think of top 3 easily) so I can purchase cash flow positive small multi-family when opportunities present themselves in next 6 - 12 months.

I am reconstructing my home(knocked down and rebuild)  which already has a fha mortgage of 375K.

I am in the middle of a major rehab now, but on a rebuild that was priced out at 60k it has turned into probably 75-80K.