Once the drywall was removed, I ended up having to strengthen the joists up to 10 inch joists as there were only 2x8's up there in between floors.  

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

Quote from @Briley Roe:  yes those fees are very high as you have a broker fee and other fees for a loan little over $100k at 6+ points. 

By highlighting properties in high-demand areas like San Ysidro that are ripe for SB-9 developments, you'll attract savvy buyers and investors who are eager for strong returns.

The country is the economic powerhouse of Europe, with a highly diversified economy driven by strong industrial, automotive, and technological sectors.

For example: We provide tax preparation and advisory services to people who invest in commercial (including multifamily) real estate, and high w2 earners investing in short-term rentals.

One notable example is the closure of Price Chopper on Cambridge Street at the end of January.

This was a highly successful transaction.

I would highly recommend looking into syndications!