Flipping a burned house, costs and margins. Is this a good deal?

[Anna Chacon]

Hi guys. My husband and I are starting to flip houses. We found a burned house to flip, looks horrible inside, but seems like it was only because of the smoke. Everything looks like painted on black. The fire probably started in the kitchen because the bedrooms walls are not like the rest of the house. The outside roof appears to be intact, but there’s damage to an outside wall. The house is deemed inhabitable. 

No liens or debts attached to the house, it’s an auction house so no warranties of any kind

The neighborhood has a lot of old houses but it also has renovated houses and one of them just sold for 145k

The price is 48k, do you think this is a good deal? How much do you think it will cost to flip this house? 

[Teri Feeney Styers]

@Anna Chacon looks like a pretty big project to me (I have sold a burned house before and built my personal house on the foundation of a burned house). I'm not sure you'd make any money on the $100K spread - are you doing the work yourselves (if so, how much per hour is a satisfying wage)? Listing with an agent after the fact? Borrowing any of the money? All those factor in... Believe me, the building dept is going to be looking closely at this one too (structurally & electrical). Proceed with caution...