I've not thought this rental group through yet but can anyone recommend the best method moving forward? 

Aram,First, I need to correct something that Michael Norris Posted, Replacement Cost and Actual Cash Value are methods of valuing the the loss.  

Their internal appraisal method is a little wonky IMO but again, you are free to get your own appraisal and inspections and lenders will require this anyway.

This is just another method that I have personally have had success in, its shocking how many people want to be in real estate, but they just don't have the time to do the ground work.

I just turn in my PSA with Method of Payment addendum and the title co has it drafted by one of their network attorneys for about $300.

Going through the BRRR method and have begun looking at a new property.

Account ClosedA good method is washing the walls and ceiling with warm soapy water, nothing special, just dish soap. 

and this is the moooost amazing method to effortlessly get aid buyers... are you ready?

The exact method depends on the county)- insurance (ask your agent for an estimate)- replacement reserves ($250-300/unit/year)Project income and expenses to the future (e.g. 5 years from now). 3% rent growth and 2% expense growth are typical but your millage may vary.

I recon you will find a ton of investors that swear by this method but you have to know one thing about the internet.