The amount you would need to report as potentially taxable gain is total insurance proceeds less your adjusted tax basis in the property (your mortgage doesn’t get considered into this calc). 

There are plenty of lenders out there that do fix and flip/ rehab lending. 100% on acquisition and 100% on rehab is unlikely, but 80%/100% is totally do-able, and potentially even 90%/100% - all without even looking at your personal income. 

For context, I'm an out-of-country investor who tries to be as hands-off as possible.

I let them know, yes proceed on T&M not to exceed the original number and do not do any work above that number.Week later contractor finds an issue and says "hey, we have another issue and we can take care of it for $500, As it stands I believe I am going to come in under my estimated total." - So we authorize the work.Contractor submits the quote yesterday for $8k and is threatening me about it. 

But on the other hand, you can also convert into a Roth and enjoy tax-free rental income for the rest of your life.Great book: Leverage your IRA by Mathew Allen.

I originate the AIO and it is a powerful tool in the right hands.  

On the other hand, if it's real small they can do it in a couple of days they may get to you quick. 

So sending by hand is allowed.

@Reggie Parker hands down https://www.thesmartercontact.com//?

I totally agree.