The ONLY broker through Geico said 8K and has a rebuild cost of over 1 million!...

I decided to move forward with the new pool following hurricane Ian in 2022 as I’m confident our community will continue to rebuild and become an even more thriving tourist destination in the years to come! 

The house is in pretty bad shape due to weather this winter, and we have kicked all tenants out to rebuild.

Should I tear it down and rebuild something newer?

I was thinking since there’s a lot of new construction in the area, to try to market it as potential tear down and rebuild as a new construction for the new properties.

You can do a couple of flips to build up your cash, then buy and hold...a couple of flips to rebuild cash, then buy and hold.

I don't buy over list price but I have bought from the MLS here in So Cal and in all cases, I added major value by adding a lot of square footage (mostly knocking down 95% of the home to rebuild new.

I did have a client demolish, bring in fill/dirt, and rebuild above the flood level. 

Take the brokers pro-forma P&L and then rebuild it with the facts as you see them, not the rosy ones that the broker wants you to think about.It's all very doable with a little work.  

In fairness, the first few years of rebuilds should go well.