Not enough information here to answer this question accurately.Is the home a total loss? 

I walked to the house and met a man who says he was cleaning out due to the loss of their mother in some few weeks back.The guy told me she is  left with 12 years mortgage on the property to pay the bank.

It doesn't cover any loss of income due to your rental being repaired.

I know it's a long shot, but I'm currently having lawyers review the signed subscription documents to see if there's any way to minimize the losses here. 

Would you have net income or net loss without the cost seg study?

I also had a passive loss for the rental property in 2017.

They didn't extend loan maturities because they were looking out for borrowers--and the moment they feel the market is strong enough for them to liquidate the asset they will foreclose and/or force a sale to recover as much principal as they can. 

Once a complete loss mitigation application is received, the servicer must review that application before starting the foreclosure process.""

@David Woodside The 500-hour rule allows you to treat rental losses as active, enabling you to offset other income and reduce your tax bill significantly.

Our crew tracked the thieves footprints and sled marks through the snow to some old warehouses nearby and recovered some of the tools.