Some Million dollar properties would need to be torn down to rebuild with the correct cash flow for long term holding. 

Son should fix his own life, save money, rebuild his credit, marry that woman, then buy a house.

I also found something interesting in speaking to USAA again, they put a 25% "padding" in order to ensure if rebuild costs run higher you're still covered which isn't stated up front until you speak to them.  

If $50000.00 is too much to completely gut a 3 bed 2 bath down the the studs and rebuild with high end finishes then I guess I am a sucker.I had all intentions of purchasing the finishing materials myself and allowing the contractor to pay for the building materials.

My girlfriend and I just drove through Coffey Park this evening (we were coming from my parents' house a few blocks away from there) and remarked on the amazing progress that has been made on rebuilding after the fires.

I wish I could.)Wade OgletreeWhat he failed to mention is that your participation in the Small Rental Assistance program will get you a check from the government for investing and helping rebuild the area affected by Katrina.

Full fix and flip interior and exterior, new roof/ rafters, siding, drywall, flooring, wall tear out, wall rebuild, foundation repair, electrical repair, bathroom replacement , the works!!

Even if your insurance company rebuilds your property, there may be no one there to rent it.

I know they are rebuilding a lot there.

Depending on what type of loan you try you may be able to rent it at closing BUT HOWEVER If it's not legal and you have a fire, or tenant complains to city, or the roof leaks... no permits... you can't rebuild... the city red tags the building.