RCV is the way to go, but be careful it may not cover all you think it does - typically RCV will only pay out if you actually have enough coverage for total rebuild and actually intend to rebuild following a catastrophic covered loss.

I often hear people say they pick ACV over RCV insurance when the cost to rebuild would be more than the market value.

I found someone else for less than half that and they used them. 2) A plumber charged me $260 to unclog the kitchen sink, the tub, and rebuild the shower faucet.

Even if you have to demo and rebuild the shed, it would be cost effective.

In an A community the land value is high enough that if the subject property were to burn down, it would make sense to rebuild a bigger and better property.In a B community the land value should be substantial enough to rebuild the same property, in square footage and included features.In a C community the land does not support rebuilding, and the lot will remain vacant for years to come.

My last project is a full teardown and rebuild of a SFH in DC which I just finished this month.

Another key thing to look for is hte option to be paid out vs. rebuild.

IF Greg was talking about "removing" wood shingles then rebuilding back ... that's a whole new topic! 

But if you have a long horizon it's a great area to get in on the rebuild.

Examples: Large 2 bedrooms house, convert to 3 bedrooms and/or add a 2nd bath without an addition, house with unpermitted conversion (enclosed patio/porch, etc), legally permit it to add sf for little cost.fix/flip or build - Find distressed properties under market value (they are still out there, even now), demo and rebuild to modern standards, then sell and tfr that money to a cashflow property and put more money down with your new found profit.