Going for a burnt house!

[Mary lou L.]

The home two doors down from my rental had a fire in the laundry room. It burnt that side of the  home through the roof.

This home is very similar to mine, built at the same time, same finishes, exterior. The appraised value of mine ( just did a refinance within the last month) was 68k. So I figure this home at least to be that.

My contractor says he can get the home back into shape for 25-30. I have at least that much to get started.

The owner just got the deed. The home has been paid off.

I was thinking of starting the offer at 2500. It needs a full cleanout and gut even before we get started on the rest.

I am also going to enlist a local realtor to handle the transaction. The  home is in Texas.

If this goes through I will surely post pics and progress of the rehab.

Please let me know that I am not crazy, and if I am call me out on it!!