Your state laws control, but the loss value to the materials will be based on fair market value.

May want to look into NonQM loans, such as a profit and loss only loan, 12 month bank statement loan, or 1099 only loan if you have trouble showing income 

By next year, most “houses” that were converted to short term rentals will no longer be rentable as a short term rental, owners will be better off selling or renting long term, even if it’s at a loss it will be less of a loss than leaving empty or selling.cabins that have been pillaged and not maintained will likely not rent short term except during peak times, perhaps 30 percent occupancy.

Whether it’s hurricanes, tornadoes, wildfires, or just flooding the losses the insurance companies are seeing over the past 5-10 years are huge.

These policies are typically more expensive and cover way less in the case of a loss.

Cut your losses admittedly I dont know your market so ..... 

I also know a professional property manager is more efficient, has better marketing, established policies to handle problems and prevent losses, knows and complies with the law better, and more.But maybe you can do it as well as the PM.

If there is no coverage, the question becomes, what is the value of loss taking into consideration depreciation? 

If it's a loss its a loss, maybe I can write it off on my taxes or maybe our story saves others from a similar pain.

The remaining 25% of the gross rent will be absorbed by vacancy losses and ongoing maintenance expenses.When using a lease agreement, the lease agreement amount must be supported byForm 1007 or Form 1025, as applicable, orevidence the terms of the lease have gone into effect.