Anyone have experience dealing with frozen pipes and does this deal make since?

[Fasil Khan]

Hi all, 

I need some advice I am looking at a 4bed 2.5 bath 1785sft SFH that is an REO asking price 274,000. I had 1 contractor look at the house and quote me a verbal amount of 30k worth of rehab, kitchen, cosmetic work on the 2 baths glazing tubs add 2 new toilets and 1 new sink, hardwood floors, new carpets for steps and may do carpets in 2 rooms, add a new roof, but now here comes the kicker there are frozen pipes. Since the house is in REO I can't not turn the water on to see exactly how much the damage is but does anyone know what worse case scenario cost would be to Repipe and fix the entire house vs just few leaks?

I put down 60 k worth of rehab plus a 12,500 safety net cash for a huge mess up during rehab and ARV is 416,000, the profits are in double digits based on my calculations approximately 35k including everything mentioned above.

Also the experts out there do you feel I have enough of a safety net with these numbers?