Any advice for a BRRR with mold or cost of remediation?

[Sean Myers]

Hello to all!

I'm considering the purchase of an REO with major mold issues. The good news (at least it seems like good news) is that the cause of the moisture was a burst pipe not a leaky foundation or some other mystery cause.. The property is dry at this point but the damage is extensive. I'm hoping to apply the "Buy, Repair, Refinance & Rent" method using a 203K.

Anyone have any rough figures for professionally done abatement of mold in the Mid-Atlantic area? Based on the walk through I'd say the entire basement (about 1K ft sq) will need to be removed to bare studs in order to be confident that the job is done correctly.

How about advice for working with mold removal contractors. I understand that in general they tend to play on a customer's ignorance and hyper-fear of mold to some extent but what about credentials to look for, special insurance they should have or things like that? 

Either way thanks for your time and have a great one!