You only want to file a claim if it's much greater than deductible or your rates shoot up pretty quickly. 

For us, we have insurance on it and found it easier to keep in the trust vs. llc and have to deal with state filings etc. 

When you say "we," are you speaking about your business or your personal tax returns, or does your business flow into your personal returns because you file as a sole proprietor?  

When you file your taxes at the end of the year the accountant is going to ask you for your receipts or what and how much you want to write off using deductions.

My suggestion is to simply file the BOI requirement.

They hold title, and the mortgage and promissory note were attorney drafted and filed at our local county. 

Without going into too much detail, my current situation stems from selling a previous company via partial owner financing, only for the new owner to default on the purchase, leaving me in this position.For traditional financing, I understand I’ll need at least one, if not two, years of solid credit history, tax filings, and other financial documentation.

You could try filing a case/judgement against them but I’m guessing they ar leaving the area to screw over the next MTR landlord.

The last thing you want is to have a home run deal that theoretically should be a high-profit flip but is ruined because your contractor screws you over in some form or fashion (late deadlines, inaccurate scope of work, etc.). 

the OZ or Land REIT they filed with the SEC was revoked.