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.

To compare apples to apples, mine was going to be a complete tear down and rebuild, If you can just do repairs, it seems like it should be a lot less.

Green Loans are now available to add improvements like Solar Roofs,100% full battery backups and EV charging on our properties. all loans make money available to rebuild from fires etc.

In the event of a total loss, insurance companies will only pay what it costs to rebuild the house, nothing more.

Account Closed, are you planning on renovating the property or leveling/rebuild?

We have used our home insurer for one of our rental properties but with our recent purchase of more rentals they are older homes built in the 1950s so the replacement cost is not enough to rebuild in case of fire or other circumstance.