Insurance proceeds are typically provided in a check that must be endorsed by both the policy holder and the mortgage holder. 

I do not make contractor recommendations.

As a loan officer, I recommend first ensuring you have a thorough assessment from a contractor who specializes in fire damage.

Definitely a very expensive lesson learned, need recommendations for a reasonable priced, good contractor please?

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

@Casey Ram older homes generally have more expensive insurance.

Hi my name's Jim ,I have done all aspects of house repair ,building ECT I even have my refrigerant licences ( universal) I started working with my father at around 8 years old took right to HVAC ,we did all aspects of...

I viewed the insurance to be property insurance (fire, etc) and not asset protection. 

I've learned a ton, gained a ton of experience, had some long nights, but overall very pleased with the first year in business.Once I onboarded property #4 I realized I was getting close to my max in terms of how many properties I can take on with no other employees or outside help, while still being able to dedicate ample time to my 2 other businesses (I'm also a general contractor and content creator).My plan is to hover around 5 properties for the long haul.

Perhaps I could help with some recommendations for other contractors to bid on the roof and foundation or even a new property manager.