I have had to I can remember that were bad.I had a gentleman decide to rebuild his Harley-Davidson in the living room of an apartment I owned.

The development side can be very challenging if you are starting from scratch (maybe a rezone or conditional use permit) vs rebuilding an existing park.

Insurance companies are increasing rates on homeowners due to costs of rebuilds, reinsurance, catastrophic storms etc. that were mentioned before. 

For example, are there people who are just too exhausted to rebuild, but are willing to sell their flood damaged property and remove themselves from the situation?  

I had to rebuild them with new washers and packing.

I am also fine with buying land with a house already on it and either fixing it up or demolishing and rebuilding.

You will then have to rebuild everything.

I see this area is going through a lot of housing renovation and rebuilding, its very close to downtown and MCV so would have better price appreciation in future and have good rental market. 

Gut renoRemoved trees to create a lake viewSurveyed off the detached shop with its own half acre to rebuild it into a stand alone 1 bed cabin What was the outcome?

If it is major, as in gutting the damaged area and rebuilding, it is capitalized and depreciated.