The insurance company may cover some or all of the restoration costs.Scope of Work and Budget:Detailed Inspection: Get a comprehensive inspection to identify all areas of damage, including hidden issues like electrical, plumbing, and HVAC systems.Cost Estimation: Obtain detailed cost estimates for the restoration or rebuilding process from licensed contractors experienced in fire-damaged properties.Environmental Hazards:Asbestos and Lead Testing: Older properties may contain asbestos or lead, which can become hazardous after a fire.

While you could be responsible for part of the cost, you should only be responsible for the worth of the depreciated door. 

I have been doing some new construction stuff in Ohio, and I'm curious to see how our costs compare to others. 

Your cost of living sucks in NYC so that hurts as well.You say you want financial freedom, but what you really want is time freedom and the only way to get time freedom is through earning money to give you that.

It’s also prudent to review and update your properties' safety measures, such as installing fire alarms and security systems, as these can sometimes help reduce insurance costs.

Or are holes after move-out just part of the cost of doing business?

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!

There are initial and annual costs involved, and you have to sign up with a brokerage. 

Also, the opportunity cost of leaving the property vacant for a year while paying a mortgage on it and not receiving rental income is much higher than what the marginal difference in rate will cost you until you cashout refi it.

In my local market (SE Michigan) construction costs have gone up but home prices have fallen.