If you paid $54k cash and your insurance covers $94k in replacement value, you *should* be able to collect the $94k as well as the $8k in lost rental income and either rebuild or simply sell as is and let the Market figure out how much it is worth.

I don't believe the REIA covers MF specifically. 

You use this $96k to pay off your original loan of $80k and are left with $16k which you can use to acquire another $80k property.So yes, you now have 2 loans (which your rent should cover) but you've increased your total portfolio by $80k for no additional money!

If they insist on sending individual rent payments, we charge an administrative fee to cover the extra bookkeeping effort and bank charges.

Everyone covered it.

The takeaway is I won't have covered parking if I do the addition.  

i am looking at pair of quad plex units on the same property.they are asking $330,000 for the pairthe first chart is off the sellers numbers                                       MonthlyAnnualIncome:$4,500.00$54,000.00Vacancy (10%):$450.00$5,400.00Management Fee (9%):$405.00$4,860.00Property Tax:$483.33$5,800.00Total Insurance:$208.33$2,500.00Maintenance Cost:$1,666.67$20,000.00Other Cost:$375.00$4,500.00Cash Flow:$911.67$10,940.00Net Operating Income (NOI):$952.17$11,426.00 i adjusted the number and added mortgage payment                                     MonthlyAnnualIncome:$4,500.00$54,000.00Mortgage Pay:$1,409.16$16,909.88Vacancy (10%):$450.00$5,400.00Management Fee (10%):$450.00$5,400.00Property Tax:$483.33$5,800.00Total Insurance:$208.33$2,500.00Maintenance Cost:$1,250.00$15,000.00Other Cost:$416.67$5,000.00Cash Flow:$-167.49$-2,009.88Net Operating Income (NOI):$1,286.67$15,440.00 i over figured vacancy to cover one unit empty per month.other cash flow covers trash and waterthere are a total of 9 units. i know i am problem not giving you enough infothis would be my first investment property and i am a little gun shy of the deal

You're fortunate that you have that rental property to cover your obligatory expenses but do not get comfortable.

Check with  They cover MANY states, and offer great rates.Western Gold Insurance AgencyAgora Hills, CA. 

I understand the hesitation of animals but can guarantee through the lease that if there is any destruction or smell we will cover the cost.