Luckily neither of them were mine, or the 2 guys I work with. Both houses were the same guys though. He owns 68 rental properties we manage. He said in 40 whatever years of buying and selling he'd had fires but never a complete loss. For us its easy. Once insurance and the fire department clear it we're just going to have it bulldozed and hauled off. Probably won't be enough in it worth rebuilding either one so they'll just be empty lots from now on.
Interesting. I only ask because I work in the multifamily industry and was curious. We work at an apartment community level though, not individual investments like that.