So if you have $50,000 in damage and the house has depreciated 60% you would only receive $30,000 ($50,000 x .60)).I write a lot of rental properties in CT and have found that the best company for a property can vary based on location (fire protection differs by town and even with towns), condition of the property, and how updated the plumbing, roof, electric, heat are among other factors. 

Ok I am not sure if this is the best place to post this but the stove in the rental property we bought looks nice (stainless steel) but one of the heating elements is not working.

Many of us know because these triple-deckers were built 100-150 year ago, the original layouts are horrible (lack of counter space, kitchen in a narrow area near the bathroom, wash & dryer out in the open kitchen, minimal counter spaces, lack of dishwasher, parlor heating/stove, etc.).

I've never heard of grease causing rips, but I am sure the heat can do some serious damage. 

Good day AllSo I bought an investment property, at the time inspector said there was no heat and air.

It’s an opportunity to be rational, not impulsive, in your decision-making, so that you don’t either buy or sell in conditions you might soon regret, all because you got caught up in the heat of the moment. 7 - And finally – the ‘I Don’t Have Any Biases’ Bias – It’s pretty unlikely that you’re that unicorn, to be honest.

What is your current heating setup?

The building had central heating and they didn't charge enough fees, and had to charge special assessments to pay past due electric bills to avoid shutoff. 

When I use that term I mean it cashed flowed after I accounted for each of these items on a monthly basis: Monthly Mortgage payment Mortgage Insurance Taxes Sewer and Water Trash Heat/Utilities HOA/Legal Cap Ex and Ops Insurance Mgmt Fee Vacancy Did you put a number to each of these?

The good news is that heating oil tends not to migrate too far.