I was determined to restore that.  

The $380K insurance payout is typically not taxable if used to restore the property.

We are completely restoring this community with brand new homes and infrastructure

If another veteran assumes the loan then their entitlement will replace the sellers, and the sellers entitlement can be restored to full.Great post!

I also own a water restoration and general maintenance business in the area and the amount of STR owners that we have spoken with is insane.  

ARV 900Total reno was 170k Appraisal $399.00 Shut off valves $95.75 paint $300.18 Commeercial enzyme cleaner $72.09 Water activation fee $51.38 shut off valves $38.52 Kilz restoration primer $275.66 Kilz restoration primer $150.33 Shower tile-Master.

The older the home the more difficult (and therefore expensive) it's likely to be to restore a home to pre-loss condition2.

I involved insurance, remediation, restoration and they all did their part and finished in 2 weeks.

In my market there is a premium placed on old homes that are restored.

Just like in Southern Italy, where houses are sold for as little as one euro, similar initiatives exist in Spain to attract people to repopulate villages and revitalize these areas.In fact, many Dutch investors are purchasing properties in Spanish villages to restore them and bring life back to these communities.