If you don't actually replace the damaged property, the insurer will normally only pay you the "actual cash value," i.e., the depreciated value of the property.

An LLC with 2 +members does normally require a 1065 filing. 

My question is, do you keep your gains in a normal checking account and do not worry about inflation working against that account or do you store funds in a high interest bank account or a mix.

A deposit at the start of a build is normal, this usually pays for materials and labor to get started.

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

From there they port out to all the normal other sites.

Memberships exist to lock you in and are not normally in your interest.Most club organizers don't do this for the few dollars they might make at a meeting.

Because I rent 4 bedrooms house, it's more conducive to large gatherings and parties.Another issue and please tell me if this is normal that when people book for 5 people they usually have at least 10 or 15 additional guests. 

A straightforward way to estimate value is by looking at the price per square foot and using that to calculate your property's worth.In situations like this, it's worth spending a couple of hours yourself to get a solid understanding of the market.

This is a "foot in the door" asset type!